Handicare

  • Industry
  • Healthcare
  • Revenue
  • NOK 610 million (2004) NOK 2,495 million (Pro forma 2009)
  • EBITDA
  • NOK 58 million (2004) NOK 284 million (Pro forma 2009)
  • Entry
  • July 2005
  • Realised
  • December 2010
  • Majority owner
  • Herkules Private Equity Fund I
  • Team
  • Morten Blix, Patrik B. Egeland, Jostein Bjørge

Herkules acquired Handicare from ABN Amro Capital and Foinco Invest in July 2005. The company was a leading producer and distributor of technical aids for elderly and disabled in Norway.

During Herkules ownership Handicare became a leading European provider within all main areas of aids and equipment for elderly and disabled people.

Main events:

  • Developed and executed a buy-and-build strategy with 13 add-on acquisitions, creating a leading European player
  • Integration of companies and improved operations
  • Business model shifted from having 70% of sales from 3rd party products to 70% of sales from proprietary products, and a solid foothold in several countries
  • Expanded from three business units; Mobility, Auto and Puls with two new business units; Patient Handling & Bathroom safety and Accessibility

Herkules Private Equity Fund I sold Handicare to Nordic Capital Fund VII in December 2010.

Read more at: www.handicare.com