Minivator take five minutes to go OTT
Because the brand is not targeted to the end user Minivator is not seen advertising in the end user media that often, be that client or for local authority use. We wanted to initiate a program that would support our brand with Occupational Therapists without conflicting with any product promotions our dealers may be conducting.
To this end we came up with the idea of the OTTimes, a short run newsletter that is issued free of charge to OTs. Unlike many company newsletters of this type the OTTimes doesn’t carry product information. As a company we understand the pressures that OTs and their teams face on a daily basis and wanted to give a little back to those that give so much. We hope the content will be informative and of interest to the readers providing a taste about varied topics and offering sources of further information should the reader wish to find out more.
For instance our inaugural issue looked at the Payroll Giving Scheme (GAYE) and also outlined the benefits of using suppliers who are members of the BHTA.
Encouraged by the requests to be added to the mailing list we will be releasing the next issue of OTTimes in September. As ever Minivator welcomes feedback from dealers, if anyone would like to suggest a topic that they think would be of interest to the readers of OTTimes please let Sharron know by fax to 01384 405755 or by email on sharron.thomson@minvator.co.uk
Gresham backs the buy-out of stairlift manufacturer Minivator
Birmingham, [19 August 2004] - Gresham, the mid-market private equity firm, has backed the management buyout of leading stairlift manufacturer Minivator. Minivator provides bespoke stairlifts and access solution products to the disabled and less able population in the UK and overseas.
The company, based in Kingswinford in the West Midlands, is a holistic solutions provider for the installation of stairlifts in the home. Minivator designs, manufactures and installs each stairlift to the individual requirements of its customers, this is supported by a dedicated customer services centre and a national service and installation team. Minivator has invested heavily in extending its product range and customer service, the business now employs over 180 people.
Following the MBO, Mike Lord will be Managing Director. Mike has extensive experience of the stairlift (del s) industry having co-led the original purchase of Minivator from Sunrise Medical in 2000. The current Chief Executive, Barrie Payne, will continue to work with Minivator in a consultancy role.
The stairlift market is estimated to be worth approximately £200 million per annum globally, with 45% of sales taking place in the UK. The market is expected to continue to exhibit strong growth, fuelled by the ageing population demographics, increased customer acceptance of the product and growth in the availability and accessibility of government funding through the Disabled Facilities grant. Growth in its access solutions market is forecast to accelerate when the Disability Discrimination Act comes into force in October of this year, requiring all public facilities to be equally accessible to all people.
The company has a number of contracts with local authorities to provide stairlifts to their respective regions as well as selling directly through a network of more than 250 dealers across the UK. Minivator also has international reach with operations in France, Italy, Germany, Japan, Australia and the USA, making it the second largest stairlift manufacturer in the UK market and number three in the world.
Paul Franks, investment director of Gresham’s Birmingham office who led the MBO, said: “We are delighted to be investing in a high-quality and experienced management team running a business that is in a great position to build on the considerable growth potential of the sector. Minivator will capitalise on its organic growth potential as well as making strategic acquisitions to consolidate its market position.”
Mike Lord, the managing director of Minivator, said: “With Gresham’s support, we are now in a position to reach our full potential. We have market leading products and will continue to invest in both research and development to improve and expand our product range and customer service. This is an exciting time in the development of Minivator”
Andy Taylor of Lloyds Acquisition Finance provided the debt financing and working capital. Gresham and the management team were advised by Steve Currie and Jamie Hope of Catalyst Corporate Finance. Jim Lavery of DLA provided legal advice to Gresham, Paul Bennett of George Green provided legal advice to the management team. Financial due diligence and tax structuring was carried out by KPMG Birmingham.