Nordstjernan takes the next step in building a global mobility Group
Etac acquires Convaid, a US based pediatrics company
Nordstjernan is continuing to expand in the health care and medical aids sector with its wholly owned subsidiary Etac acquiring the US company Convaid.
With this acquisition, Nordstjernan is taking the next step in building a leading global player within products for people with special needs as well as strengthening Etac’s position in North America. Convaid is a market leading US company that manufactures and sells strollers for children with special needs. Convaid’s sales in 2015 are estimated to amount to approximately SEK 150 million. More information about Convaid is available at www.convaid.com.
Nordstjernan acquired 60 % of the shares in Etac in December 2006, and acquired the remaining shares in December 2011. With Nordstjernan as its owner, Etac has through a combination of organic growth and acquisitions become one of the leading players in Northern Europe within medical products for people with impaired mobility. The acquisition in 2011 of the Danish company R82, a world leader within pediatrics, gave Etac a global sales platform and a strengthened position in products for children with special needs. Etac currently generates sales of SEK 1.3 billion. More information about Etac and R82 is available at www.etac.se and www.r82.com.
“It is exciting to develop Etac from a Scandinavian company with a broad product range to a global player with cutting-edge expertise in the important area of pediatrics, while also holding strong positions in several other selected areas. Etac’s management is working diligently towards this objective. Convaid is the most recent addition to the puzzle. We are pleased with Etac’s performance and will continue to search for attractive companies to add to the Group,” says Tomas Billing, President and CEO of Nordstjernan.
“With the acquisition of Convaid, Etac is supplementing its product offering for children with special needs. It is equally exciting that we are doubling our sales in North America and thus establishing a stronger platform for continued high growth in both pediatrics and Etac’s other products on the market,” says Torben Helbo, CEO of Etac.
The parties have agreed not to publish the conditions of the transaction.
|Tomas Billing||Torben Helbo|
|President and CEO||CEO|
|Nordstjernan AB||Etac AB|
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Nordstjernan is a family-controlled investment company that creates growth in value through long-term and active ownership of Nordic companies. More information on Nordstjernan is available at www.nordstjernan.se
Etac develops, manufactures and markets products to aid people with impaired mobility. The company has a broad range of equipment for both young and elderly persons. Through its subsidiary R82, Etac is a global leader in the field of products for children and young adults with special needs, and this also represents the largest business area. Etac is wholly owned by Nordstjernan. More information about Etac and R82 is available at www.etac.com and www.r82.com