MobilityWorks announces it has partnered with Flexpoint Ford, a Chicago-based private equity firm focused on the healthcare and financial services industries, to fund its ongoing expansion strategy and accelerate its vision of “Accessibility for All.”
Following the investment, MobilityWorks will continue to operate as an independent company led by its management team, which will retain a significant ownership stake. Michael Fazekas and Dominic Hood, Principals of Flexpoint Ford, will also join the Company’s Board of Directors, according to a media release from Flexpoint Ford.
Since its founding in 1997, MobilityWorks has provided adaptive vehicles and accessibility solutions to customers from more than 70 locations across 24 states. With more than 1,200 employees, the business serves people with disabilities by providing wheelchair accessible minivans, full-size vans with lifts, and commercial fleet vehicles. The Company’s TransitWorks division manufactures and distributes commercial wheelchair accessible vehicles.
“We are thrilled to be teaming up with Flexpoint Ford,” says Bill Koeblitz, founder and CEO of MobilityWorks, in the release. “We chose them as our institutional investment partner because of their proven track record of collaborating with founders in the healthcare and financial services sectors to accelerate growth. Most importantly, the team at Flexpoint Ford supports our culture with a relentless focus on outstanding care for our clients with disabilities.”
Jonathan Oka, managing director of Flexpoint Ford, states, “MobilityWorks is ideally positioned as a leader in the accessibility industry, and we look forward to working with the Company’s exceptional management team and many talented employees. Our investment will create several advantages for the Company in this next exciting chapter of growth.”
[Source(s): Flexpoint Ford LLC, PR Newswire]