Handicare continues it’s aggressive acquisition strategy in Europe, now entering the bath aid segment with Linido – a company based in the Netherlands. They further continue to build on their presence in the Netherlands following it’s Movingpeople and Freelift acquisitions.
Linido generally caters to the higher end bath products segment and is a relatively small acquisition for Handicare at 11 million Euros.
More information here:
Handicare AS acquires Linido
Moss – 3 November 2008 – Handicare AS acquires Linido, one of the leading European players within bathroom safety products for elderly and handicapped. This acquisition will bring the total operating revenue in Handicare to 250 million EURO. Handicare has now 1 000 employees in 10 different countries.
Linido has a leading position within bathroom safety products in Holland and has a strong position in the European market. The company is located in the Netherlands and has sales to some 15 export markets.
Linido has a 70 year old history, and has some 50 employees and operating revenue of 11 million EURO. The Managing Director Jitske Bijlsma, will continue her position in the company.
The health care company Handicare AS, owned by Herkules Private Equity Fund , was founded in 1986 and has operations in technical aids like wheelchairs and home care products in addition to adaptation of cars for elderly and physically disabled people. Through its subsidiary Puls, the Group also has a leading position in Norway in the sales of capital goods and consumables to hospitals and institutions. Handicare has its headquarters in Moss, Norway, and has subsidiaries in Sweden, Denmark, Germany, the Netherlands, England, Belgium, USA and Canada, and distributes its own products to an additional 30 markets.
The acquisition of Linido is part of Handicare’s growth ambitions. ”We will grow both organically and through acquisitions and we have a strong development internationally”, says CEO, Per Gunnar Borhaug in Handicare. ”With the number of elderly people increasing, combined with the wish for many elderly to stay at home as long as possible, we are now able to offer a wider range of bathroom safety products in addition to other products for home care and institutions. Linido is a company which strengthens our product assortment and together with Linido we aim to improve our position in several geographical markets”, says Borhaug. “Linido is a healthy company which will add great value to the group’s business activities and will play a major role in Handicares business area for Patient Handling and Bathroom Safety Products under Handicare Executive Hardy Brännströms leadership”, says Borhaug.
”We in Linido are exited to become part of the Handicare Group, says the managing director, Jitske Bijlsma in Linido. ”Together with Handicare we can continue to develop even further and we can exploit important synergies in some markets”, she says. ”Linido has a very positive development both in operating revenue and results through the last years, and I expect this to grow even further with Handicare as the new owner”, says Bijlsma.
Linido was owned by Berk Partners, a Dutch private equity firm, together with management.
Questions regarding the acquisitions should be addressed to:
Per Gunnar Borhaug
CEO
Handicare AS
Tel: 0047 90739441
Hardy Brännström
Managing Director
Patient handling & Bathroom safety
Tel: 0046 703840022
Jitske Bijlsma
Handicare Managing Director
Linido B.V.
Tel: 0031 153695440
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