MobilityWorks, the nation’s leading provider of wheelchair accessible vehicles, today announced that it has partnered with Flexpoint Ford, a Chicago-based private equity firm focused on the healthcare and financial services industries, with Flexpoint making a significant equity investment in the Company.
| RICHFIELD, Ohio, /PRNewswire/ -- MobilityWorks, the nation’s leading provider of wheelchair accessible vehicles, today announced that it has partnered with Flexpoint Ford, a Chicago-based private equity firm focused on the healthcare and financial services industries, with Flexpoint making a significant equity investment in the Company. Following the investment by Flexpoint Ford, MobilityWorks will continue to operate as an independent company led by its current management team, who will retain a significant ownership stake. The new partnership will accelerate MobilityWorks’ vision of “Accessibility for All” with additional capital for the Company’s ongoing expansion strategy. Founded in 1997 and headquartered in Richfield, Ohio, MobilityWorks provides adaptive vehicles and accessibility solutions to customers from over 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. Bill Koeblitz, Founder and CEO of MobilityWorks, commented, “We are thrilled to be teaming up with Flexpoint Ford. 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.” “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,” said Jonathan Oka, Managing Director of Flexpoint Ford. “Our investment will create several advantages for the Company in this next exciting chapter of growth.” Michael Fazekas and Dominic Hood, Principals of Flexpoint Ford, will also join the Company’s Board of Directors. Flexpoint Ford’s extensive experience in the healthcare, consumer finance, and insurance sectors will provide MobilityWorks with substantial resources and unique capabilities to advance opportunities available to the Company. In connection with the transaction, Piper Jaffray & Co. acted as financial advisor and Calfee, Halter & Griswold and Ulmer & Berne acted as legal counsel to MobilityWorks. Kirkland & Ellis and Holland & Knight served as legal counsel to Flexpoint Ford. About MobilityWorks About TransitWorks About Flexpoint Ford Contact: View original content:http://www.prnewswire.com/news-releases/mobilityworks-partners-with-flexpoint-ford-to-accelerate-growth-and-support-strategic-vision-300715430.html SOURCE Flexpoint Ford, LLC |
