Wilmington-based 101 Mobility LLC, a provider of mobility and accessibility products, has announced it has entered into an equity partnership with a New York private equity firm. Cortec Group and 101 Mobility completed the deal on May 22.

The terms of the transaction were not disclosed.

Established in 2008, 101 Mobility sells, installs and services products for both the consumer and the commercial markets. Its core products include stair lifts, wheelchair ramps, vertical platform lifts, pool lifts, turning automotive seats and residential elevators. Through its franchise program, 101 Mobility operates more than 30 locations, with additional locations in development.

Listed on the 2012 Inc. 5,000 list of fastest-growing companies, 101 Mobility has been roughly doubling in size each year, said its CEO Dave Pazgan, who expects that rate of growth to continue. The trend of aging in place has been a major factor in the company’s growth.

“Most clients are folks that want to stay in their home but may not be able to get around the house as well,” he said. “There’s equipment out there that can help them.”

Consistent, rapid growth of 101 Mobility made the company attractive to outside equity, its executives realized. About a year ago, they started the process of finding an equity partner.

“They are smart people; they have resources,” Pazgan said of Cortec Group.

101 Mobility employs more than 30 people, about half of whom are based in Wilmington. No changes are expected for the company’s employees as a result of the transaction, Pazgan said.

“Our company remains intact; everyone stays in their current position,” he said. “We anticipate adding staff in the future to help support our franchise program."

Cortec Group, founded in 1984, acquires equity interest in health care, consumer and specialty-products companies whose management teams want to drive growth and improve the fundamentals of their businesses. It currently manages more than $1 billion in its two active funds. The firm has experience in the accessibility industry because of its acquisition in July of Harmar Mobility LLC’s  line of mobility and accessibility equipment.