Harris Williams Advises Numotion on its Sale to AEA Investors LP
November 13 2018 - 4:44PM
Business Wire
Harris Williams, a preeminent middle market investment bank
focused on the advisory needs of clients worldwide for more than 25
years, announces the sale of Numotion, a portfolio company of Audax
Private Equity and LLR Partners (LLR), to funds sponsored by AEA
Investors LP (AEA). Numotion is a premier provider of Complex
Rehabilitation Technology (CRT) and related mobility solutions. The
transaction, led by Geoff Smith, Cheairs Porter, Paul Hepper, Tyler
Bradshaw, Nathan Robertson and Bill Whitaker of Harris Williams’
Healthcare & Life Sciences (HCLS) Group, extends the firm’s
successful track record in the industry.
“We are delighted and proud to have represented Audax, LLR and
Numotion’s management team on this transaction. Numotion’s vision
and execution under the leadership of CEO Mike Swinford have not
only positioned the company as a market leader in the CRT sector,
but also positioned it as a full global mobility products and
services platform,” said Geoff Smith, a managing director at Harris
Williams.
“The combination of AEA’s long track record of success driving
growth in market leaders, industry expertise and belief in
Numotion’s mission make AEA an ideal partner to continue and
accelerate Numotion’s growth trajectory,” said Cheairs Porter, a
managing director at Harris Williams. “We are incredibly excited to
watch the development of this chapter of Numotion’s story.”
Numotion is a leading provider of CRT, improving the lives of
people with disabilities by enabling them to actively participate
in everyday life. CRT is medically-necessary,
individually-configured mobility products and services, including
manual and power wheelchairs, designed to meet the unique medical
and functional needs of individuals with significant disabilities
and medical conditions to provide them with greater independence.
Based in Brentwood, Tennessee, Numotion has more than 140 locations
across the U.S. and serves more than 250,000 people.
Since its founding in 1999, Audax Private Equity has been
focused on building leading middle market companies. Audax Private
Equity has invested $5 billion in 117 platform and 713 add-on
companies. Through its disciplined Buy & Build approach, Audax
Private Equity seeks to help platform companies execute add-on
acquisitions that fuel revenue growth, optimize operations and
significantly increase equity value. Audax Group is an alternative
asset management firm specializing in investments in middle market
companies. With offices in Boston, New York and San Francisco,
Audax Group has $13 billion in assets under management across its
Private Equity, Mezzanine and Senior Debt businesses.
LLR is a middle market private equity firm committed to creating
long-term value by growing its portfolio companies. LLR invests in
several industries, with a focus on technology, healthcare and
services businesses. Founded in 1999 and with more than $3.5
billion raised across five funds, LLR is a flexible provider of
capital for growth, recapitalizations and buyouts.
AEA was founded in 1968 by the Rockefeller, Mellon and Harriman
family interests and S.G. Warburg & Co. as a private investment
vehicle for a select group of industrial family offices with
substantial assets. AEA’s active individual investors include an
extraordinary network of more than 75 of the world’s leading
industrial families, business executives and former government
leaders. Today, AEA’s approximately 70 investment professionals
operate globally with offices in New York, Connecticut, London,
Munich and Shanghai. The firm manages funds that have approximately
$11 billion of invested and committed capital, which AEA invests
through leveraged buyouts of middle market and small business
companies and through mezzanine and senior debt investments.
Harris Williams (www.harriswilliams.com), a subsidiary of the
PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent
middle market investment bank focused on the advisory needs of
clients worldwide. The firm has deep industry knowledge, global
transaction expertise and an unwavering commitment to excellence.
Harris Williams provides sell-side and acquisition advisory,
restructuring advisory, board advisory, private placements and
capital markets advisory services.
Harris Williams’ HCLS Group has experience across a broad range
of sectors, including medical devices, products and distribution;
multi-site and retail healthcare providers; alternate site care;
healthcare IT; managed care and cost containment services;
outsourced clinical services; and outsourced pharma services. For
more information on the HCLS Group and other recent transactions,
visit the HCLS Group’s section of the Harris Williams website.
Investment banking services are provided by Harris Williams LLC,
a registered broker-dealer and member of FINRA and SIPC, and Harris
Williams & Co. Ltd, which is a private limited company
incorporated under English law with its registered office at 5th
Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with
the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams is a
trade name under which Harris Williams LLC and Harris Williams
& Co. Ltd conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 648-0072.
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version on businesswire.com: https://www.businesswire.com/news/home/20181113006197/en/
Katie Langemeier, associate brand manager+1 (804) 648-0072
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