Management Team Announces Acquisition Of Champion Chair
Levine Leichtman Capital Partners supports management's acquisition of Champion Manufacturing, Inc from Invacare Corporation.
- (1888PressRelease) August 16, 2013 - ELKHART, Indiana - The management of Champion Manufacturing, Inc. ("Champion"), with the support of Los Angeles-based private firm, Levine Leichtman Capital Partners completed the acquisition of Champion from Invacare Corporation. Based in Elkhart, Indiana, Champion is a leading designer and manufacturer of seating products for the healthcare market.
Champion has been a part of the Invacare family of companies since 2004. Doug Keeslar, Champion's President commented, "Invacare has made a strategic decision to refocus on their core markets - Home Medical and Long Term Care. Recently Invacare has determined that divesting Champion is in the best interests of both organizations."
According to Mr. Keeslar, "This process has been thorough and thoughtful and has been underway for some time. It is not a surprise to the Champion management team that this transition has gone quickly and seamlessly." While this divestiture allows Invacare to move closer to their core business, it allows Champion to move forward with a new private equity partner who is able to invest in a way that will fuel Champion's near-term and long-term vitality,".
The company name will remain Champion Manufacturing Inc. Champion's management, sales, customer-service, and production teams remain intact.
Champion is a leading U.S. manufacturer of patient and staff seating and accessories for healthcare providers world-wide. The Company's product portfolio primarily consists of highly engineered medical recliners sold to outpatient, post-acute medical facilities for treatments such as hemodialysis and other medical treatments where patient comfort is of critical importance.
Levine Leichtman Capital Partners is an independent investment management firm with approximately $6.5 billion of committed capital under management.
About Champion Chair:
We delivered our first product - a medical sleeper chair. Our medical sleeper was the first chair in the industry to satisfy everyone, comfort for the patient, user-friendliness for the caregiver and cost-effectiveness for the treatment center.
Our chair was so well designed that it impressed one of the world's largest medical distributors, which inspired us to develop our medical treatment recliner for hemodialysis. That chair, too, followed our "Every one served. Everyone satisfied." philosophy. Combined with a steady stream of customer input and patient feedback, this approach makes our entire family of Medical Recliners, Sleeper Chairs and Caregiver Seating the "benchmark" for the industry.
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