Stirling Square acquires majority stake in Assistansbolaget

The deal is the GP's third investment from its fourth fund, which held a final close on €950m in January 2020. The vehicle targets mid-market companies with enterprise values of €50-500m.

The company's CEO, Lukas Fryklund, said in a statement that they had been approached by many different players, but chose Stirling Square because they sought a partner that shared their approach to development and digitalisation, and that could contribute both advice and capital for the next phase in the company's history.

Following the deal, Carl Hegelund will continue to work on the board, but will step down as chairman and be replaced by Henrik Lif, while Lukas Fryklund will continue as CEO and president.

Company
Founded in 2015 and headquartered in Helsingborg, Assistansbolaget is a B2C roadside assistance provider in Sweden. The company contracts directly with 350,000 customers in an annual subscription-fee model to provide drivers with roadside assistance across Europe. 

People
Assistansbolaget Försäkring Sverige – Lukas Fryklund (CEO, president).
Stirling Square Capital Partners – Henrik Lif (partner).

Advisers
Company – Mannheimer Swartling (legal). 
Equity – Kanter Law (legal); Alvarez & Marsal (financial due diligence); Christian Murray (IT).

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• Stirling Square Capital Partners