01/2004
VMI (Vantage Mobility International), a leading provider of vehicle accessibility products, today announced the purchase of the Personal Division of Ricon Corp. This acquisition includes Ricon's platform lift and adaptive accessories product lines sold through retail dealers. Terms of the transaction were not disclosed.
The addition of these products complements VMI's existing specialties in lowered-floor mini-vans, lowered-floor full-size vans and stowage lifts. The combined history of these companies offers 38 years of experience in delivering quality products and reliable customer service to the marketplace.
"This acquisition benefits all parties, notably the dealer and the consumer," stated Mitch Vance, chief executive officer at VMI. "It demonstrates our commitment to being the industry's most comprehensive supplier to mobility equipment dealers and durable medical equipment dealers. The consumer benefits because we offer products at many price levels and for nearly every consumer need. We are excited about the opportunities that lie ahead for both of these companies as a result of this acquisition."
Jack Donovan, president of Van Conversions, a VMI dealer, feels the expansion of product lines will benefit his customers and his business. "Consumers appreciate the time-saving convenience of working with a dealer that offers a full spectrum of products and services at a variety of price levels. And for my business, procuring these products through a single vendor such as VMI offers greater purchasing and operating efficiencies like increased order volumes and elimination of redundant administrative and marketing processes. In today's competitive economy, I look forward to the changes."
As a part of the agreement, Ricon will continue to manufacture platform lifts and adaptive accessories under a long-term contract with VMI. "This transaction allows Ricon to retain and enhance our focus on the commercial / transit markets and best-in-class manufacturing," stated Bill Baldwin, CEO of Ricon Corp, based in Los Angeles, California.
Ricon Corp. is a recognized world leader in the design and manufacture of wheelchair accessibility systems and solutions, including wheelchair lifts and ramps for vans, buses, coaches and rail vehicles. More information is available at www.riconcorp.com.
VMI (Vantage Mobility International), headquartered in Phoenix, Arizona, is a leading designer, manufacturer, distributor and marketer of vehicle accessibility products for the mobility equipment industry. The company is the industry's broadest solution provider, offering products at many price levels and for nearly every consumer need. More information is available at www.vantagemobility.com.
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