Harris Williams & Co. Advises Vantage Mobility International on the Sale of a Majority Interest to Evergreen Pacific Partners

February 4, 2014

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of a majority interest of Vantage Mobility International, LLC (VMI), a leading manufacturer of wheelchair accessible vehicles (WAVs) and other mobility products, to Evergreen Pacific Partners (EPP). VMI’s CEO Doug Eaton and CFO Tim Barone will retain significant ownership stakes in the company and continue to lead its operations.  Harris Williams & Co. acted as the exclusive financial advisor to VMI. The transaction closed on February 3, 2014 and was led by Todd Morris, James Clark, Andy Dixon, Andy Hewlett and Ricky Ng from the firm’s Healthcare & Life Sciences (HCLS) Group.

"We are thrilled to have represented VMI’s shareholders in this transaction. VMI’s history of innovation and outstanding product quality, customer service and dedication to improving the quality of life of its end users has positioned it for strong continued growth and success in partnership with EPP," said Todd Morris, a managing director in Harris Williams & Co.'s HCLS Group. "The transaction is indicative of the strong interest that we have seen from both strategic and financial acquirers in the personal mobility sector, and in particular for businesses such as VMI that benefit from demographic and healthcare trends driving demand growth for accessibility solutions."

Headquartered in Phoenix, AZ, VMI is a leading manufacturer of WAVs and other mobility products.  With nearly three decades of experience, the company has built a long-term reputation for outstanding quality, as well as leading product development capabilities through which it has established a strong track record of innovation and patented technologies.  VMI’s WAVs and other products are sold through an extensive mobility equipment dealer network with retail locations throughout the United States and Canada.

Based in Seattle, WA, EPP currently manages two private equity funds totaling $700 million with a focus on investing in traditional, middle market companies in Western North America.

Harris Williams & Co. (www.harriswilliams.com), a member 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 & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

The firm’s  HCLS Group has experience across a broad range of sectors, including alternate site care; managed care and cost containment services; medical devices, products and distribution; outsourced clinical and practice management services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group website.