STENKULLEN, Sweden — The Braun Corp. has acquired "a substantial ownership position" in Swedish company Autoadapt from Bruno Independent Living Aids, according to a March 14 release.
The majority of Autoadapt shares are now owned in equal parts by Bruno and Braun. A smaller number of shares are held by Autoadapt founders Peter Wahlsten and Hakan Sandberg, who will continue to run the company.
The goal is to increase the turnover in Autoadapt from SEK 160 million in 2010 to SEK 500 million in 2016 (or about $79.53 million U.S.).
"The demand for our solutions continue to increase each year as more people become aware of the possibilities," said Autoadapt's Wahlsten. Autoadapt is also expanding into new areas such as taxis, community transport and buses, which it said are growing markets for increased accessibility for people with limited mobility.
In conjunction with its investment in Autoadapt, Winamac, Ind.-based Braun, which makes wheelchair-accessible vans, ramps and wheelchair lifts, has merged its wholly owned European company, UVL Lift AB, into Autoadapt. Bruno, headquartered in Oconomowoc, Wis., offers automotive lifts along with stairlifts and vertical platform lifts.