Class VI Partners (“Class VI”) is pleased to announce the acquisition of Ride Designs (“Ride” or the “Company”) by Sunrise Medical (“Sunrise”). This acquisition marks a significant expansion of Sunrise Medical’s custom seating offerings, clinical expertise, and service capabilities.
Tom Hetzel, CEO and Co-Founder of Ride Designs said, “To think we could have done this on our own is unrealistic. Class VI guided us through the M&A process with great speed (time kills deals), professionalism, good humor, grace, and skill. I am thrilled with the outcome.”
“I thought I worked hard, but Class VI has shown me a whole new level of work ethic. Watching their team bring this deal to fruition on schedule and with such an impressive outcome for this company was incredible,” said Joe Bieganek, President and Co-Founder of Ride Designs.
“It was a privilege and an honor to help Ride navigate a small part of this wonderful outcome. We are excited to see what the future has in store for this great company in this next chapter of growth and the start of a great new partnership with Sunrise,” said Peter Bessone, Vice President for Class VI.
Riley Bell, Senior Analyst for Class VI, added “Tom and Joe’s entrepreneurial journey from a startup ‘garage shop’ to a scalable enterprise poised for domestic and international growth is nothing short of extraordinary. Their mission to improve the lives of wheelchair users is powerful to witness and will continue to grow through Ride’s partnership with Sunrise Medical.”
Founded in 1998 and headquartered in Denver, Colorado, Ride Designs has built its reputation as an industry leader in designing and delivering highly specialized seating systems for wheelchair riders. In recent years, Ride Designs has also been successfully developing, implementing, and optimizing the advanced 3D printing technologies for mass production of such highly customized products.
Hetzel commented, “We are thrilled to become part of the Sunrise Medical group. Ride Designs has always been dedicated to helping wheelchair riders achieve the best possible fit to enhance their quality of life. This aligns seamlessly with Sunrise Medical’s mission of improving people’s lives.”
President and CEO of Sunrise Medical Thomas Babacan stated, “We are very excited to welcome Ride Designs into the Sunrise Medical family. We firmly believe that this acquisition has high strategic importance and offers mutual benefits for both parties. By joining forces with Ride Designs, Sunrise Medical adds a high-end custom seating offering to our Seating and Positioning product portfolio. The acquisition not only addresses and significantly expands the broadest spectrum of seating and positioning requirements for wheelchair riders worldwide, but also brings highly valuable clinical expertise and advanced 3D printing technologies and competences into the Sunrise Medical group.”
Committed to improving people’s lives, Sunrise Medical is a world leader in the innovation, manufacture, and distribution of advanced assistive mobility devices and solutions. Distributed in more than 130 countries under its own 17 proprietary brands, the key products include manual and power wheelchairs, e-mobility products, motorized scooters, seating & positioning systems, and daily living aids. Operating in 23 countries, Sunrise Medical group is headquartered in Malsch, Germany, and employs over 2,600 associates worldwide.
The transaction closed on September 29th, 2023. Fortis Law Partners LLC served as legal counsel to Ride Designs, and Brownstein Hyatt Farber Schreck served as legal counsel to Sunrise Medical.
For more information about the transaction, please contact Peter Bessone at (303) 243-5606 or pbessone@classvipartners.com, and Riley Bell at (303) 243-5609 or rbell@classvipartners.com.
About Class VI Partners
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.
Tom Hetzel and Joe Bieganek of Ride Designers are not being compensated for sharing opinions of Class VI. Any compensation creates a conflict of interest. Hetzel’s and Bieganek’s comments may not be representative of any other person’s experience with the firm and are no guarantee of future performance or success.
Additional Disclosures
Investment advisory services offered through Class VI Partners’ affiliate Class VI Family Office, LLC, a Registered Investment Adviser with the U.S Securities and Exchange Commission. Class VI Partners offers investment banking and private securities transactions through its affiliate, Class VI Securities, LLC. Class VI Securities, LLC is a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA). Class VI Pathfinder, LLC provides general business consulting to privately held businesses.
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