Savaria Corporation Expands Its Horizons
In an exciting development for the accessibility sector, Savaria Corporation (TSX:SIS), a pioneer in providing solutions for mobility and independence, has announced its acquisition of Western Elevator Ltd. This strategic move signifies Savaria's commitment to strengthening its presence in the home elevator and lift market.
The Significance of This Acquisition
Western Elevator Ltd., known for its expertise as a home elevator and lift dealer, has been a valued partner of Savaria for many years. Generating an impressive $7.5 million in revenue in the previous year, Western has cemented its reputation as a reliable provider of installation and service solutions for both residential and commercial needs. Their experience and widespread service in key markets make them an ideal fit for Savaria’s growth strategy.
Building on a Strong Foundation
Founded over two decades ago, Western has successfully established itself in the crucial Vancouver area, renowned for its luxurious custom homes. The firm has developed strong partnerships with local builders and architects, showcasing its technical expertise and commitment to high-quality installation services. This foundation poised Savaria to leverage Western's quality standards and relationships to enhance its service offerings.
Continuity and Leadership
Alan Bodnaruk and Cameron Pomeroy, the dedicated owners of Western, will remain in their leadership roles post-acquisition. Their ongoing involvement is essential for maintaining the seamless operation of the business as a division under Savaria. This continuity is reassuring for both customers and employees who value the personable and specialized services provided by Western.
Leadership Insights
Expressions of enthusiasm for the new partnership came from both sides. "We’re passionate about this industry and we are excited about the next chapter for our business. Savaria has always made us feel like collaborative partners," they remarked. The sentiment of collaboration and support reflects Savaria’s ongoing dedication to its partners and customers.
A Vision for Growth
Alex Bourassa, President of Accessibility North America at Savaria, welcomed the Western team with open arms, stating, "Having a stronger Savaria footprint on the West Coast has always been a goal of ours and Western is the ideal team to deliver this." This vision for expansion not only aims to bolster Savaria's market presence but also seeks to enhance the service quality for existing and new customers alike.
About Savaria Corporation
Savaria Corporation is recognized as a global authority in the accessibility business. Its mission revolves around providing effective solutions for individuals with physical challenges, enhancing their overall mobility, comfort, and independence. Boasting one of the most comprehensive product lines in the industry, Savaria designs, manufactures, and installs equipment such as stairlifts, vertical lifts, and commercial elevators. The company also produces a variety of medical products aimed at improving patient handling and safety.
With a robust sales network spread across North America and Europe, Savaria employs a workforce of approximately 2,500 individuals dedicated to fostering accessibility solutions worldwide. Their commitment to innovation and excellence continues to set them apart in the industry.
Frequently Asked Questions
What prompted Savaria to acquire Western Elevator Ltd.?
The acquisition aims to strengthen Savaria's foothold in the home elevator market and leverage Western's established reputation and expertise.
How long has Western Elevator been in business?
Western Elevator Ltd. has been operating for over 25 years, building a solid reputation as a premier dealer in the industry.
What kind of services does Western provide?
Western is known for offering installation and servicing of home elevators, stair lifts, and wheelchair lifts for both residential and commercial applications.
Will the leadership of Western remain in place after the acquisition?
Yes, the current owners will continue in their roles, ensuring a smooth transition and continuity of service.
What is Savaria's mission in the accessibility industry?
Savaria aims to enhance mobility, comfort, and independence for individuals with physical challenges through their extensive range of accessibility solutions.
