Nordstjernan’s wholly-owned subsidiary Etac has made an investment in 100 per cent of the shares in the US company Ki Mobility.
The investment strengthens Etac’s global position in manual complex rehab and will create a strong platform for further growth in Europe, the US and export markets.
Etac is a global supplier of mobility equipment and patient handling solutions used in home care, long term care and acute care. Etac’s sales in 2020 amounted to approximately SEK2,800 million and the company has just over 900 employees. The company’s brands and products include Etac (manual wheelchairs, bathing and toileting aids), HoverTech, Molift and Immedia (patient handling equipment), and R82 and Convaid (specialized pediatric equipment). The head office is located in Sweden with manufacturing and R&D units in Europe and North America.
Ki Mobility is a North American leader in manual complex rehab wheelchairs and seating. The company is owned by Doug Munsey, Murray Slagerman and minority investors and is based in Stevens Point, Wisconsin. The parties have agreed not to disclose the terms of the transaction.
“The investment in Ki Mobility is an important step in Etac’s continued efforts to build a global leadership position in select segments and is in line with Nordstjernan’s ambition to build and develop leading companies in healthcare and medtech,” says Nordstjernan’s CEO Peter Hofvenstam.
“The investment in Ki Mobility is a game-changer for Etac. The combination of Ki Mobility and Etac pediatric brands Convaid and R82 will create a strong complex rehab manual mobility growth platform in North America as well as globally,” says Etac chairperson Nora Larssen.
“We are very pleased to have Etac and thereby Nordstjernan as the new owner and home for Ki Mobility. Nordstjernan and Etac have strong values and a long term growth oriented focus which are great fits with Ki Mobility. Together with Etac we look forward to continue our domestic and international growth journey and take Ki Mobility to the next level,” says Doug Munsey, co-founder and President of Ki Mobility.
Nordstjernan has a long tradition as an active shareholder in listed and private companies. Nordstjernan was founded in 1890 and the company’s major shareholders are the Axel and Margaret Ax:son Johnson Foundations.
Nordstjernan has in recent years actively invested in the care, healthcare and medtech sector, and today holdings within this sector account for almost 25 per cent of Nordstjernan’s net asset value.
