Affiliate of CoBe Capital acquires Völker from Hill-Rom (NYSE: HRC)
Witten, Germany – CoBe Capital, a global private investment firm focused on operation of non-core and underperforming business units, announced today that an affiliate has completed the acquisition of the Völker business from Hill-Rom Holdings, Inc. (NYSE: HRC).
Headquartered in Witten, Germany, Völker is a premier producer of high quality long-term care and acute care healthcare beds. Völker has been a market leader for decades and is well-known for developing a new generation of top-choice beds for occupants and caregivers alike. Continuous product innovation and process improvement are hallmarks of Völker, which employs nearly 250 people at its Witten-based production site.
Neal Cohen, CoBe Capital's Founder and Managing Director, stated, “We are confident that Völker’s best-in-class manufacturing capabilities and renowned brand reputation combined with our operational expertise in the region will set the business on a positive trajectory. We are excited to have the opportunity to create another success story in Europe.”
CoBe Capital’s Managing Director for Europe, Dr. Henning Walf, noted that the historic brand is well-positioned for growth, stating, “Völker has long been a leader in the European long-term care market. We look forward to working with Völker’s management to stabilize the business and develop sales and marketing initiatives that will drive success for the standalone entity.”
Dr. Knuth Schmidt, CoBe Capital's Director of European Operations, and Samuel Zurkinden, CoBe’s Senior Vice President of European M&A, will work closely with Völker’s management team throughout the transition and implement an operational plan that will promote long-term profitability.
This is the fourth consecutive transaction in which CoBe Capital has acquired a European business unit from a US-domiciled multinational corporation. CoBe Capital now has two businesses with operations in Germany in addition to one of its own European offices, which is in Cologne, Germany.
Based in Witten, Germany, Völker develops and produces premium quality beds and healthcare furnishings for the long-term care and acute care markets. Völker boasts a strong track record of innovation, continuously producing beds that fulfill the highest regulatory requirements. In addition to its beds, Völker also provides an extensive range of bed-related accessories, such as furniture, mattresses, lamps, and steering devices as well as various customer and technical services. For more information on Völker, please visit voelker.de.
About CoBe Capital
CoBe Capital, a global private investment firm with a permanent capital base, specializes in the acquisition and operation of non-core and underperforming business units in the Americas and Europe from leading global corporations. CoBe Capital owns and operates a diversified portfolio of companies and strives to achieve long-term growth based on lean management and continuous improvement business philosophies. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.