AEA acquired controlling interest in Numotion from LLR Partners and Audax Group. LLR Partners has reinvested in Numotion as a minority shareholder. The private equity firms are partnering with Numotion’s existing management team to help fund the company’s continuing growth initiatives, according to a news release.
“We’re excited to partner with AEA as we enter into this next chapter of our growth,” says Mike Swinford, CEO of Numotion, in the release. “AEA’s resources and expertise will help us to further invest, so we can continue in our pursuit of providing the best possible services to our customers. The AEA team is extremely passionate about our purpose, which made them the perfect sponsor as we continue our mission of improving the lives of people with disabilities.”
Louie Sharpe, partner, AEA Investors states, “Numotion is the recognized leader in the CRT market with an established, world class leadership team and strong market presence across more than 140 locations in the US. We are excited to work with this team to continue to grow Numotion and identify opportunities to better serve its customer base.”
“Numotion’s leadership team has tremendous passion and commitment to helping its customers,” adds Howard Ross, partner, LLR Partners. “We share their enthusiasm and look forward to supporting Numotion’s continued growth and expansion into new markets.”
Harris Williams & Co served as financial advisor to Numotion. Terms of the transaction were not disclosed.