Rockwood is pleased to announce that Lifeway Mobility, a provider of home accessibility and safety solutions, has completed a recapitalization with Cressey & Company LP alongside senior management.
Headquartered in Hartford, Conn., Lifeway is a leading national provider and installer of home accessibility equipment, including a wide variety of ramps, stair lifts, wheelchair lifts, elevators, transfer aids and bath safety products to individuals and businesses. Rockwood first invested in the business in August 2018, and during its ownership, completed six add-on acquisitions for Lifeway. Rockwood is confident that Lifeway is well-positioned to continue its growth trajectory under its new ownership.
“Cressey & Company has an established and longstanding track record of partnering with talented executives, a singular focus on the healthcare industry, and deep experience in and knowledge of the home-based care setting,” said Joe Merrill, Rockwood partner. “This expertise positions Cressey & Company as the ideal partner for Lifeway as the company executes on the next stage of its growth plan in becoming the leading accessible equipment partner for all constituents focused on care-at-home.” Lifeway will continue to be led by Chairman Tim Burfield, President Paul Bergantino, Chief Financial Officer Dave Hess and Senior Vice President Bryan Mullen.
The Lifeway investment served as another example of Rockwood’s River Guide® Network, a group of seasoned industry executives, with each member having decades of operating experience and an interest in working hand in hand with Rockwood to build lower middle market businesses. The transaction also marks Rockwood’s second successful exit in the healthcare space in a span of six months. Last fall, the firm exited SYNEO, a provider of medical equipment, cutting tools and services, primarily for the medical device industry.
Rockwood continues to seek investment opportunities in the healthcare industry, including manufacturers, services and solution providers. To discuss a potential investment, please contact Kate Faust, Partner-Business Development, at (216) 278-7070 or email@example.com.