Private equity firm HIG Europe has acquired two mobility equipment firms, Meyra and Alu Rehab, which it will combine to form one business.
Meyra designs, manufactures and sells wheelchairs, rehabilitation equipment and orthopaedics under its own brand and has production sites in Germany and Poland. It employs 600 people and is expected to generate more than €80 million (£69.3 million) in sales in 2019.
Alu Rehab makes wheelchairs which it sells under the Netti brand. It has production facilities in Norway, Denmark and China and employs 120 people.
The combined group will be run by the current management teams of both companies.
Michal Perner, President of the Management Board and founding shareholder of Meyra, said: “Meyra is a very strong brand that has continuously expanded its market position due to superior quality of products and reliable services.”
Kjetil Gausel, CEO of Alu Rehab, said: “For Alu Rehab, joining with Meyra will open attractive opportunities as we significantly expand our product portfolio and geographic reach.”
Holger Kleingarn, Managing Director at HIG, added: “The combination of Meyra and Alu Rehab represents a strong strategic and cultural fit.”