One of the North America’s leaders in the accessibility industry, Savaria Corporation has entered into an agreement with Visilift, LLC, through a wholly-owned subsidiary, to acquire all of the assets of Visilift for US $5.0 million.Based in Eaton, Colorado, Visilift was founded in 2007. The company offers round and octagonal panoramic glass home elevators for the residential market. Today’s homeowners want accessibility equipment that features both functionality and aesthetic appeal. Visilift home elevators are integrated with full-view hoistways that makes them a fully self-contained and attractive centerpiece in homes. They can be seamlessly integrated to any existing or new building without any major modifications. They do not require a pit and machine room as the hoistway is included and installation requires less time and expense.

In accordance with the Acquisition Agreement, an amount of US$3.5 million of the purchase price will be payable immediately and rest of US$1.5 million payable upon the completion of certain post-closing conditions by Visilift™ which includes the transfer of production activities to Savaria’s manufacturing facilities in Brampton, Ontario. Upon attaining certain performance metrics over a three-year period, Visilift will have an opportunity to earn an additional payment of US$3 million besides their purchase price. Savaria Corp. is expecting to generate US$3.0 million in sales in 2018 and US$10 million in 2019 from the acquired business with EBITDA margins of approximately 20%.

“Having a mission to be a leader in the North American accessibility market, we are constantly in search of new and innovative products that complement and enhance our existing portfolio. Therefore, it brings me great pleasure to announce the acquisition of Visilift’s cutting-edge glass elevator technology,” says Marcel Bourassa, Chairman, President and Chief Executive Officer of Savaria. Visilift elevators is now called Vuelift elevators. Learn more about Vuelift home elevators – Vuelift octagonal elevator and Vuelift round elevator.