Drive DeVilbiss Acquired by Kingswood Capital Management

LOS ANGELES—Kingswood Capital Management, LP announced it has signed a definitive agreement to acquire Drive DeVilbiss Healthcare from CD&R. Drive’s existing management team will continue to lead the company. Kingswood said it will leverage its network, industry expertise and capital base to support Drive’s continued growth. The transaction is expected to close later this year, subject to customary legal and regulatory requirements.

Founded in 2000, Drive is a global manufacturer and supplier of essential medical products used primarily in the home setting. Following the 2015 acquisition of DeVilbiss Healthcare, a provider of respiratory care since 1888, Drive expanded from wheelchairs, beds, rollators and other homecare products to include a full line of respiratory products used in more than 100 countries. Drive said it is looking forward to continuing its mission to deliver innovative health care solutions that enhance the quality of life of the people it touches.

“We are incredibly excited about our new partnership with Kingswood and are confident this new chapter for Drive DeVilbiss will be the most exciting yet,” said Derek Lampert, CEO of Drive. “Kingswood is fully aligned with the management team on the company’s future growth strategy.”

“We have been impressed with the company’s tremendous growth and success in recent years and we look forward to partnering with Derek and the rest of the Drive DeVilbiss management team to support the next phase of the company’s expansion,” said Michael Niegsch, partner at Kingswood.

“Drive is well positioned for continued growth as a result of strong market tailwinds, organic growth initiatives and actionable M&A opportunities,” said Alex Wolf, founder and managing partner of Kingswood. “We’re looking forward to leveraging our deep operational network and expertise to support the company as it continues to grow and provide solutions to customers and patients around the world.”