LAVAL, Québec, May 08, 2025 (GLOBE NEWSWIRE) — Savaria Corporation (“Savaria”) (TSX:SIS), a global leader in the accessibility industry, is pleased to announce the acquisition of Western Elevator Ltd. (“Western”), a premier home elevator and lift dealer based in Coquitlam, British Columbia.
Western generated approximately $7.5 million in revenue in 2024 and has been a long time, top-tier Savaria dealer. Founded 25 years ago, Western has built a strong reputation as a full-service dealer/installer of home elevators, stair lifts, and wheelchair lifts for residential and commercial applications. They service Vancouver and the lower mainland area of the province.
Known for many exceptional custom homes, the Vancouver area is a key market for luxury residential elevators and Western enjoys strong relationships with local home builders and architects, delivering both their solid technical expertise and high-quality installation services.
The owners of Western, Alan Bodnaruk and Cameron Pomeroy, will continue in their current leadership roles and manage the company as a division of Savaria, ensuring continuity for both customers and staff.
“We’re passionate about this industry and we are excited about the next chapter for our business. Savaria has always made us feel like collaborative partners and now we look forward to new growth with their support,” said Alan Bodnaruk and Cameron Pomeroy.
“We welcome Alan, Cam and all of their employees to the Savaria family today. Having a stronger Savaria footprint on the West Coast has always been a goal of ours and Western is the ideal team to deliver this,” stated Alex Bourassa, President, Accessibility North America.
About Savaria Corporation
Savaria Corporation (savaria.com) is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China. Savaria employs approximately 2,500 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.
Forward-Looking Statements
This press release includes certain statements that are “forward-looking statements” within the meaning of the securities laws of Canada. Any statement in this press release that is not a statement of historical fact may be deemed to be a forward-looking statement. When used in this press release, the words “believe”, “could”, “should”, “intend”, “expect”, “estimate”, “assume” and other similar expressions are generally intended to identify forward-looking statements. It is important to know that the forward-looking statements in this document describe the Corporation’s expectations as at the date hereof, which are not guarantees of future performance of Savaria or its industry, and involve known and unknown risks and uncertainties that may cause Savaria’s or the industry’s outlook, actual results or performance to be materially different from any future results or performance expressed or implied by such statements. The Corporation’s actual results could be materially different from its expectations if known or unknown risks affect its business, or if its estimates or assumptions turn out to be inaccurate.
A change affecting an assumption can also have an impact on other interrelated assumptions, which could increase or diminish the effect of the change. As a result, the Corporation cannot guarantee that any forward-looking statement will materialize and, accordingly, the reader is cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements do not take into account the effect that transactions or special items announced or occurring after the statements are made may have on the Corporation’s business. For example, they do not include the effect of sales of assets, monetizations, mergers, acquisitions, other business combinations or transactions, asset write-downs or other charges announced or occurring after forward-looking statements are made.
Unless otherwise required by applicable securities laws, Savaria disclaims any intention or obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing risks and uncertainties include the risks set forth under “Risks and Uncertainties” in Savaria’s latest Annual MD&A as well as other risks detailed from time to time in reports filed by Savaria with securities regulators in Canada.
| For further information: | ||
| Sébastien Bourassa President and CEO 1. 800.661.5112 sb@savaria.com | Stephen Reitknecht, CPA, CA Chief Financial Officer 1.800.661.5112, ext. 3370 sreitknecht@savaria.com | |
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