Harris Williams Advises Numotion on its Sale to AEA Investors LP
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.