PHS West, Inc.

Minneapolis, Minnesota – Quazar is pleased to announce PHS West, Inc. (“PHS” or “the Company”) has been acquired by Amplex AB (“Amplex”). Quazar Capital Corporation (“Quazar”) advised PHS in the transaction.

The Shareholder of PHS made a decision to transition the business in order to find a Buyer with the resources, industry expertise, and scale to manage and augment the rapid growth of the business. The Shareholder chose Quazar as their M&A Adviser primarily due to Quazar’s unique marketing approach, extensive network, ability to reach strategic buyers, industry expertise, and reputation for successfully working with privately-held businesses.

After an extensive marketing process, Quazar generated robust interest in PHS, including from both Strategic and Financial Buyers. Ultimately, the Shareholder decided Amplex was the right Buyer for the business due to its industry knowledge, cultural fit, international reach, and experience managing rapidly growing businesses.

“I am grateful for Quazar’s efforts in helping negotiate and close the transaction. The entire Quazar team was invaluable throughout the process, and I do not believe this transaction would have come together without Quazar’s leadership. As for the future, I am thrilled to have partnered with Amplex in order to continue to grow the business. I have confidence Amplex will continue to serve our customers well and create new opportunities for our employees. This acquisition is a truly great fit for everyone involved.” – Dan Cummings, President of PHS West

“In our companies within the Sunnex Lifting Technology Group, which is part of the Amplex sphere, we already have a fine and exciting business in lifting equipment for material handling, and we are represented in several markets in both Europe and the USA. PHS West is a well-run company that we know well as a customer and partner in the American market. The acquisition of PHS West gives us a high-quality and very attractive complement to our existing offering, as well as adding a strong management team to our group” – Fredrik Celsing, President and CEO of Amplex AB

PHS West, Inc. (phswest.com) in an industry leader in designing, assembling, and selling material handling equipment for a wide range of applications and industries. Started in 1995 by Dan Cummings, and currently located in Rockford, Minnesota, the Company originally specialized in motorized travel endoscopy carts. Since then, the Company has developed an array of motorized and non-motorized ergonomic friendly equipment. Today, some of the Company’s products include: motorized lifters, specialized motorized tugs, server rack tugs, dialysis carts, patient transport chairs, supply distribution carts, trash and bio-hazard carts, and linen carts.

Amplex AB (amplexab.se) is a privately-held Swedish holding company which specializes in retail technology, lighting, anti-vibration equipment, and automotive sales. The group consists of approximately 20 different companies throughout Sweden, Finland, France, China, and the United States.

Quazar (quazarinc.com) is a Minneapolis-based Investment Bank founded in 1990. Quazar specializes in working with privately-held businesses within various industries, including: manufacturing, distribution, business services, technology, and consumer. Quazar provides both sell-side and buy-side advisory services to companies in the lower middle and middle-market.