Savaria Corporation (TSX:SIS) provides accessibility solutions such as commercial lifts, elevators, ceiling lifts, stairlifts and adaptive vehicles.
It markets the products across North America, China and Europe.
Founder Marcel Bourassa founded the business as a manufacturer of wheelchair lifts in 1989. Initially, the company primarily catered to the ageing population. However, with over 30 years in business, the company now claims to be a global leader in personal mobility and accessibility solutions.
Bourassa Savaria Foundation reportedly addresses the problems faced by differently-abled or people with mobility issues.
The company went public in 2002, followed by listing of its shares on the TSX under the symbol ‘SIS’.
In 2005, Savaria Corporation acquired Concord Elevator & Van Action.
It opened a manufacturing unit in China Savaria Huizhou in 2007.
The company acquired Liberty Motor Co & Viewpoint Mobility three years later and purchased Silver Corss’ assets in 2014.
Further, in 2015, Savaria Corporation acquired three Silver Corss stores. In addition, it added automobility assets of Shoppers Automotive in 2016.
With the acquisition of US-based Span America in 2017, the company diversified its business, reportedly. In addition, Savaria Corporation acquired Florida Lifts LLC & Silvalea in 2019.
The Quebec-based organization operates through four core business divisions, including:
Savaria Concord Lifts Inc
The company owns and operates lift and elevating division manufacturing units in Magog, Quebec and Brampton, Ontario, Canada.
It caters to pre-assembly operations for elevating and lifts in China.
It provides medical products such as therapeutic surfaces, medical beds and essential healthcare services. The company has manufacturing facilities in South Carolina, US and Greenville and Beamsville, Ontario.
Savaria Corporation owns lift and elevating manufacturing units in Surrey, British Colombia, Canada and Milan in Italy through this segment.
The company also offers mobility solutions for both home and commercial use.
Under the home section, Savaria Corporation provides the following mobility solutions as per individual needs:
• Vertical Platform Lift
• Enclosed Vertical lift
• Inclined Lift
• Home elevator
The company claims that the lifts and elevators can be personalized and installed at homes to enable accessibility and mobility. In addition, Savaria Corporation provides remote-based stairlifts and wheelchair lifts equipped with buttons or call stations.
The company provides accessibility solutions to commercial buildings.