6 June 2011 - In March of this year Handicare announced the establishment of a new company, You-Q, for the production, distribution and sales of the Alex, Beatle and Ibis XP power wheelchair models. Swedish investment company R12 Kapital has now signed a deal to become the new owner of You-Q. The sale of You-Q marks the final approval of the Dutch Competition Authority (NMa) for the acquisition of Handicare by Nordic Capital Fund VII.

With a well-established product base and highly experienced team and management, You-Q was a desirable prospect for many companies. Dick van de Beek, Managing Director You-Q: “We are delighted with the deal and are looking forward to entering a new phase with R12 Kapital as the new owner. R12 Kapital aims to develop You-Q further as an independent company and we believe this will open up new opportunities to develop new strategies, expand our product portfolio and further grow our business.”

“Selling part of our power wheelchair business was a precondition to obtain approval of the NMa for the acquisition of Handicare by Nordic Capital Fund VII,” says Rens Schoenmakers, Managing Director Mobility Handicare. “We are pleased that we have found a buyer that recognises the unique qualities and potential of You-Q, and is committed to help the company to further strengthen its independent position in the marketplace. At the same time, we are delighted that we will be able to continue our strategy of providing customers with high-quality, innovative mobility solution and growing the Handicare group with Nordic Capital Fund VII as the new owner.”

Handicare will continue to sell the Alex, Beatle and Ibis XP power wheelchairs as distributor for You-Q outside the Netherlands.

For more information, please contact:

Rens Schoenmakers, Managing Director Mobility Handicare, +31 (0)492 593 886

Dick van de Beek, Managing Director You-Q, +31 (0)492 505 700