The company, called Investor AB, recently signed the agreement that will make the Winamac operated Braunability part of the company’s portfolio. Others businesses in that list include AstraZeneca, Electrolux, and NASDAQ.
Braunability President and CEO Nick Gutwein says the company approached them in the March-April timeframe.
“They are committed to our Winamac site and employee base. Very much so,” says Gutwein. “That’s the deep roots we have, and the experience and talent that’s made us who we are. So their acquisition of us is based upon an attractive and ongoing track record of good performance.”
BraunAbility is the world’s leading manufacturer of wheelchair accessible vehicles and wheelchair lifts.
According to a press release, the company is now part of Investor AB’s Patricia Industries Division. This is considered the first North American investment of that division. Gutwein says there are no plans to change staffing levels, saying that with a plan for growth, the intent is to add employees.
He says the acquisition will help them achieve some of their plans.
“The name will stay the same, the management will stay the same, our direction will generally stay the same,” says Gutwein. “We’re just going to get some support in executing our strategy. I don’t suspect the community will see any change.”
Investor AB says it pursues long-term investment strategies. Their investigation of Braunability took several months. The new owners possess a net asset value of about $36-billion.
While Braunability has announced the plans, the acquisition is still in need of approval from the necessary regulatory bodies. Closing for the acquisition will likely take place later this year.