Audax Private Equity (Audax) and LLR Partners (LLR), in partnership with management, have completed the sale of Numotion to AEA Investors (AEA) and Numotion management.
Headquartered in Brentwood, TN, Numotion is a provider of Complex Rehab Technology (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. Numotion serves over 250,000 customers across 140 locations and more than 2,500 employees. Known for its industry-leading customer service, Numotion provides a unique set of access, expertise, advocacy, and personalised care to help drive its mission of improving the lives of people with disabilities.
Geoffrey S Rehnert, Co-Chief Executive Officer of Audax Group, says: “We are proud to have supported Mike Swinford and the Numotion team in creating such a market-leading and mission-driven provider of Complex Rehab Technology. The Company has led the way with innovative product solutions and services, a national geographical footprint, and robust growth through organic initiatives and strategic acquisition. We wish continued success for Mike and his team as they enter the next stage of growth with their new partner.”
Mike Swinford, Chief Executive Officer of Numotion, says: “We are grateful for the resources, support, and stewardship Audax and LLR have provided over the last 5 years in helping us transform Numotion into what it is today. We are well positioned to accelerate our growth trajectory and advance our mission of improving the lives of people with disabilities. We look forward to partnering with AEA to continue that work, and drive positive outcomes for our customers, the industry, our employees, and our shareholders.”
Terms of the transaction have not been disclosed. Ropes & Gray, served as legal advisor and Harris Williams served as financial advisors to Numotion. Fried, Frank, Harris, Shriver & Jacobson served as legal advisor to AEA.
