News

London, UK and Helsingborg, Sweden: 31 January, 2024 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, announces that its portfolio company Assist24 Group (“Assist24”, formerly Assistansbolaget Group), a market leader in B2B & B2C roadside assistance, has completed the acquisition of a majority stake in Redning Danmark A/S (“Redning Danmark”), the fourth largest provider of roadside assistance in Denmark which focuses on the B2B segment, and five affiliated franchise stations. The transaction is a significant step in the company’s internationalisation strategy. Subsequently, Assist24 now operates as the new group brand and holding entity for Assistansbolaget and the newly acquired Danish business. Financial terms of the transaction have not been disclosed.

The transformational deal marks Assist24’s entry into the Danish market, aligned with its internationalisation strategy, delivering its broader ambitions to be a leading player across the Nordic region, and building upon its established reputation for providing best-in-class customer service. The creation of the new entity also provides an opportunity to replicate Assist24’s B2C channel in Sweden alongside the existing B2B business and will bring Assist24’s proprietary technology to Denmark, creating a more efficient, transparent, and digitally integrated experience for customers.

Ben Hopper, Managing Director at Stirling Square commented: “We are proud to reach this milestone with Assist24 – delivering on our ambition to turn domestic market leaders into pan-European, global champions. Stirling Square’s track record in internationalisation will help to strengthen Assist24’s expansion strategy, collaborating with Redning Danmark to be a leading market player in the Nordic region.”

Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of Assistansbolaget Försäkring Sverige AB (“Assistansbolaget” or “the Company”).

Assistansbolaget is the leading B2C Roadside Assistance (“RSA”) provider in Sweden.  The company contracts directly with over 350,000 customers in an annual subscription-fee model to provide drivers with RSA services across Europe.  It is the technology- and data-driven innovator operating in a stable and mature industry.

Since its founding in 2015, Assistansbolaget has established itself as the clear market leader in the B2C RSA segment in Sweden.  Its unique capabilities include a single integrated digital platform, fully automated claims handling, an asset-light operating model, and a lean entrepreneurial organisation.

Henrik Lif of Stirling Square commented: “We are delighted to partner with the Assistansbolaget team.  Since the business’ founding in 2015, they have demonstrated their ability to disrupt an entrenched and slow-moving industry with new and innovative ways of working.  We look forward to ushering the business into its next chapter.”

Lukas Fryklund, founder and CEO of Assistansbolaget added: “Partnering with Stirling Square is a key milestone for the company.  Their investment is recognition of the success we have achieved to date.  I look forward to working with the Stirling Square team as we continue to innovate our products, services and technological solutions to drive the industry forward.”

The transaction represents the third platform investment in Stirling Square’s Fourth Fund.