Goodwin Procter attorneys recently advised Investor AB on its announced acquisition of BraunAbility. The acquisition is the first in North America for Investor AB and its subsidiary, Patricia Industries. Terms of the transaction, which is expected to close in the fourth quarter of 2015, were not disclosed.
Investor AB, founded by the Wallenberg family a hundred years ago, is the owner of high quality Nordic-based international companies. Through board participation, industrial experience, network and financial strength, Investor strives to make its companies best-in-class. The company’s holdings include Saab, Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care, among others. The company is based in Stockholm, Sweden.
BraunAbility is a manufacturer of wheelchair accessible vehicles and wheelchair lifts for both personal use and commercial applications. Founded nearly 50 years ago by Ralph Braun, the company was built on the age-old adage, “Necessity is the mother of invention.” Ralph Braun was a young man who used a wheelchair and had no reliable transportation to and from his place of work. He built his first wheelchair accessible vehicle in 1972, and since then, BraunAbility has grown into the most well-known and trusted brand in the mobility industry.
The Goodwin team advising Investor was led by David Powers, Jessica Jacobs (Corporate), Eric Willenbacher (Tax), Joanne Gray and Kate Seib (Products Liability), Joel Lehrer (IP), Natascha George and Monica Patel (Benefits), Rob Hale and Tim Holahan (Labor & Employment) and Nathan Brodeur (Environmental).