AbilityOne Corporation
AbilityOne Corporation was a leading distributor of rehabilitation and assistive device products used to speed recovery, improve mobility and aid independence for injured, aging and physically-challenged adults and children. In a fragmented market, AbilityOne was the distributor of choice offering more than 30,000 products. Its product catalog was recognized as the industry’s “gold standard” for physical and occupational therapists.
Investment: Water Street led the purchase of AbilityOne from corporate parent, BISSELL Homecare, Inc., in 2000. In 2001, we helped AbilityOne combine with the rehab division of Smith & Nephew to create the clear market leader in rehabilitation products distribution. As part of the transaction, we encouraged Smith & Nephew to maintain a 21.5% ownership stake in the combined company. Our team assisted with the integration, recruited additional management team members and helped the team develop a corporate strategy for growth.
Result: In 2003, we negotiated the sale of AbilityOne to Patterson Companies, Inc. (NASDAQ: PDCO), a value-added distributor serving the dental, rehabilitation and veterinarian supply markets, to effectively position AbilityOne for continued growth.
