Moving the HME Industry Forward

Rehab/Mobility

Nordic Capital Sells Permobil

April 7, 2013

STOCKHOLM, SWEDEN – Power wheelchair maker Permobil has a new owner. Eight years after Nordic Capital purchased the company, Swedish investment firm Investor AB will reportedly buy Permobil for 5.1 billion kronor ($783 million).

In a statement reported in Business Week, Investor AB CEO Borje Ekholm said Permobil “has a strong product offering, leading market positions, good profitability and solid cash flow generation.”

An additional report in the Global Post said Investor AB expects to inject about $3.5 billion in equity financing into Permobil, a Timraa-based company. The remainder of the deal will be financed by external debt and equity participation by “the board, management and other individuals.” 

A summary on the Permobil Web site described Investor AB as “one of the most prominent industrial owners in Sweden and Permobil will be part of their core holding portfolio. Investor will be able to support long term plans to grow internationally and to build a strong market leading position.”

The deal is expected to close in the second quarter and is subject to approval from competition authorities.