Savaria Corporation (“Savaria”) (TSX: SIS), a global leader in the accessibility industry, announces today that it has entered into an agreement with Drive AS, a subsidiary of Cognia AS (“Cognia”), pursuant to which Cognia would acquire all of the issued and outstanding shares of Handicare AS, subject to customary closing conditions and regulatory approvals (the “Transaction”). The Transaction is expected to close in late March or early April 2023.
Based in Moss with service depots across Norway, Handicare AS focuses on commercial adaptations including emergency-use police, fire and rescue, and paramedic vehicles. They also provide local services for personal-use mobility adaptations.
Cognia is a leader within the automotive industry in Norway, with 600 employees spread over 20 locations across the country. The group has a long history in the Norwegian car industry, dating back to the establishment of Bil-Service Passenger Cars in 1937, bilSpiten in 1959 and Volmax in 1997. Today the Cognia Group is a multi-family conglomerate consisting of four main areas of operation: cars, trucks, real estate and technology.
Source: Biospace
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