Vantage Mobility International, LLC (VMI) is a leading designer, manufacturer, and marketer of personal vehicle accessibility products for wheelchair and scooter users. VMI is the second largest manufacturer of minivan conversions and also provides full-size van conversions, platform lifts, stowage lifts, and accessory products.
VMI was seeking capital to complete the acquisition of the Personal Division of Ricon Corp. and for organic growth. The acquisition included Ricon’s platform lift and adaptive accessories product lines sold through retail dealers, and would make VMI the industry’s most comprehensive supplier to mobility equipment dealers and durable medical equipment dealers. Both dealers and consumers would benefit from VMI being able to deliver an array of quality products at various price points along with reliable customer service.
In January 2004, Caltius Mezzanine provided subordinated debt to support VMI’s acquisition of the Personal Division of Ricon Corp and to support the growth of the business.
“This acquisition was an integral part of our business plan, and the Caltius team provided the financing quickly and were responsive to changes during the deal process. Caltius is an excellent fit with the VMI management team. They demonstrated enthusiasm for our business, were flexible, straightforward, and did everything they promised to do. We quickly developed a good relationship and look forward to our continued partnership.”
Mitch Vance, Chief Executive Officer, Vantage Mobility International, LLC