BDO Capital Advisors Announces the Sale of Segway to Summit Strategic Investments
Boston, MA - April 22, 2013 - BDO Capital Advisors, LLC is pleased to announce that it served as an exclusive financial advisor to JWH Holdings, Inc. (“JWH”) on the sale of its subsidiary, Segway Inc. (“Segway” or “Company”), to private equity fund Summit Strategic Investments, LLC (“SSI”). BDO Capital Advisors prepared marketing materials, identified and contacted a targeted group of potential buyers and assisted the client in structuring and negotiating the transaction.
Segway, based in Bedford, New Hampshire is the world’s leading provider of personal electric transportation. The Company’s network currently includes more than 250 distributors, dealers and experience centers in 80 countries. “Segway is a world-renowned brand that attracted a great deal of interest from around the globe,” said Bob Snape, President of BDO Capital. “We are pleased that we were able to bring this deal to a successful conclusion for our clients.”
SSI, a fund largely backed by Wanxiang Group Corporation, is based in Brentwood, Tennessee. “SSI has a 15 year record of investing in solid companies with strong brands that offer the market true value,” said Roger Brown, newly appointed President and Chief Executive Officer of Segway. “Segway is an ideal fit for SSI’s strategic vision. My goal over the next few years is to refocus the Company on its strengths and leverage growth opportunities. In addition, we expect to announce the development of new products in the very near future.”