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.”

This transaction was overseen by President Bob Snape, Director Kevin Sendlenski, Senior Associate Patrick Bisceglia and Analyst Christopher Appaneal from BDO Capital Advisors’ Boston office.
 

ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.

The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.