Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, March 22, 2024

Article Excerpt

SAVARIA CORP., $16.81, symbol SIS on Toronto, designs and builds mobility products for consumers. These include home elevators, commercial lifts, stairlifts, ceiling lifts, and adapted vehicles. The business has manufacturing facilities in North America, Europe, Mexico and China. Founded in 1979, it became a publicly traded company in 2002. The Quebec-based firm’s products are distributed through 1,500 dealers and 29 sales offices worldwide. In March 2023, Savaria sold its Norwegian vehicle adaptation business, Handicare AS, to Cognia AS, a leading Norwegian automotive company. The sale price was not disclosed. Handicare AS was a subsidiary of Handicare Group AB. Savaria had acquired Handicare AB in February 2021 for $521.0 million. Handicare Group AB is a Swedish manufacturer of accessibility products, with customers in more than 40 countries. Meanwhile, the combined Savaria/Handicare Group business generates about 60% of its sales from North America, 40% from Europe and the rest of the world. It has almost one million square feet of production space at 16 manufacturing and…