Mid-market private equity firm Stirling Square Capital Partners has acquired Assistansbolaget Försäkring Sverige, a B2C roadside assistance provider.
The acquisition is the third platform investment in Stirling Square’s Fourth Fund, which closed at EUR950 million in January and focuses on the European mid-market. Founded by Stefano Bonfiglio and Gregorio Napoleone, Stirling Square’s portfolio includes Logent, Verescence and Vernet.
Assistansbolaget contracts directly with over 350,000 customers in an annual subscription-fee model to provide drivers with RSA services across Europe. It is a tech- and data-driven innovator operating in a stable and mature industry, the company said.
Founded in 2015, Assistansbolaget has managed to establish itself as a market leader in the B2C RSA segment in Sweden, according to the company. Its capabilities include a single integrated digital platform, fully automated claims handling, an asset-light operating model, and a lean entrepreneurial organisation.
“We are delighted to partner with the Assistansbolaget team,” said Henrik Lif of Stirling Square. “Since the launch of the business 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,” he added.
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.”
