Lifeway Mobility Welcomes Rockwood Equity Partners and Extended Home Living Services, Inc
HARTFORD, Conn. and CHICAGO, Aug. 28, 2018 /PRNewswire/ -- Lifeway Mobility, an accessibility solutions company, announced a major investment by Rockwood Equity Partners, LLC, a firm with almost two decades of success helping lower middle market businesses achieve their full potential.
As part of the transaction, Rockwood will provide additional capital and resources to enable Lifeway Mobility to accelerate its quest to become the leading provider of accessibility and safety solutions for people with mobility challenges and those wishing to age-in-place.
"Welcoming Rockwood as partners is especially gratifying for me," said Tim Burfield, Lifeway's chairman. "I first met Brett Keith, Rockwood's co-founder and managing partner, about 25 years ago when his father, Ron, and I were partners in a very successful pharmacy venture. Ron's keen business savvy, strategic vision and values are 'inter-generational' and clearly reflected in Rockwood's personnel and culture. We are delighted to be joining the Rockwood family."
"We became interested in accessibility solutions during our investment in Altimate, which is in a related mobility space, and, like Lifeway, was run by an extremely well-respected management team," said Brett Keith. "We look forward to working with Paul Bergantino, David Hess and Tim Burfield, as well as the broader Lifeway team to capitalize on the positive dynamics surrounding the home accessibility industry. We are confident that Lifeway Mobility will become a leading player in the space while continuing to deliver exceptional service to end users who rely on the company's products."
Lifeway also welcomes Elizabeth and Stephen Crandall and their team via Lifeway's majority investment in Extended Home Living Services, Inc (EHLS), the leading provider of accessibility equipment, lifts, elevators and modifications in the Chicago area. The acquisition enables Lifeway to benefit from EHLS's long history in a critically important geography for the company.
"Our plan to build the industry's leading accessibility provider includes collaborating with patient care providers, unique direct to consumer campaigns, and investing in leading regional providers throughout the country," said Paul Bergantino, Lifeway's president. "As a 25-year pioneer in the mobility solutions industry, the EHLS team will prove invaluable in enhancing our customers' safety, independence, and quality of life. Elizabeth and Stephen will continue their accomplished leadership in the Midwest and throughout the Lifeway network."
"Joining Lifeway will allow us to offer expanded coverage, new programs, and a wider range of products and services with the processes, systems and capital to support our growth," said Elizabeth Crandall, president of EHLS. "Stephen and I are excited about the prospect of better serving our customers and look forward to joining the Lifeway team as we build the industry leader together."
Lifeway Mobility offers a full suite of accessibility and safety solutions including stair lifts, elevators, wheelchair lifts, ramps and bath safety solutions; serving Connecticut, Massachusetts, Rhode Island, southern New Hampshire, Minnesota, southern/western Wisconsin, Illinois and northwest Indiana. For more information, visit www.lifewaymobility.com.
Founded in 1999, Rockwood Equity Partners is an operationally-focused investment firm focused on niche engineered product manufacturers, value-added distributors and industrial service providers. The firm has particularly deep expertise in healthcare and other regulated industries. Management benefits from Rockwood's "owner mindset" and partnership approach to adding value and equipping businesses with the tools, support and resources they need to achieve their potential. Additional information can be found at www.rockwoodequity.com.