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Cortec Closes Equity Transaction with 101 Mobility
Date:5/24/2013

New York, New York (PRWEB) May 24, 2013

Based in Wilmington, North Carolina, 101 Mobility® is a leading nationwide sales, installation and service provider of mobility and accessibility solutions for both consumer and commercial applications. The company’s core products include stair lifts, wheelchair ramps, vertical platform lifts, vehicle lifts for mobility devices, pool lifts, turning automotive seats, and residential elevators, among others. 101 Mobility operates over 30 locations, primarily through its franchise program, with a number of locations in development.

CEO Dave Pazgan, who will continue in his current position along with founders Keith Barnhardt and Luke Sampson, said, “After launching our franchise program in 2010, we have experienced a rapid rate of growth. Our partnership with Cortec ensures that we have the resources to properly support our franchisees as we expand throughout the country.”

Cortec has experience in the industry via its ownership of Harmar Mobility, LLC, a leading manufacturer of a versatile line of Mobility and Accessibility Equipment, which they acquired in July of 2012.

“Since teaming up with Cortec last summer, they have proven to be a valuable partner to Harmar. I’m confident that 101 will meet their growth objectives even more quickly with the resources that Cortec will be able to provide. We look forward to the opportunity to expand our relationship as an important supplier to 101 as they continue to grow,” added Chad Williams, CEO of Harmar.

“Given aging demographics and the general desire to stay active late into life and remain in one’s home, we believe the end markets that 101 and Har
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