The deal sees two members of the existing executive board of directors, Paul Steeper, CEO and John Midgley, Finance Director, acquire the business from UK mid-market private equity firm, Dunedin. For many years, Steeper has been owned by private equity firms, and by Dunedin since 2005. This particular investment and support has been vital in enabling the company to grow to its current position in the market.

As part of the agreement, the company’s bebionic area of the business will transfer ownership to German prosthetics company, Ottobock.

Almost 100 years ago, Steeper Group was founded in the 1920s by Paul Steeper’s late grandfather, Hugh. The company initially set out to provide prosthetic limbs to veterans of the Great War, and since then has expanded across prosthetics, orthotics and assistive technology – with a focus on creating significant turning points in individuals’ lives through exceptional clinical services and award-winning products.

Paul Steeper and John Midgley’s combined 40 years’ experience at the company will ensure a smooth continuation of the business. John Midgley said, “For many years, Steeper has been owned by private equity firms, which has enabled the company to grow to its current position in the market. We are delighted to be moving forward on a new journey from this strong base. Both Paul and I have been long-standing members of the executive board of directors, and are confident and excited about what the future holds.”

Paul Steeper added, “We have enjoyed our time with Dunedin and greatly appreciate the support we have received. We are now looking forward to the future as we seek to further strengthen our existing positive relationships with customers, our distributors and our suppliers, and continuing to provide the best products and services to the industry”.