IK Partners' IK Small Cap II Fund has completed the sale of Carspect Group, a provider of vehicle inspection services in Sweden, Estonia and Latvia, to TÜV SÜD. Financial terms of the transaction have not been disclosed. Headquartered in Bromma, Sweden, Carspect Group carries vehicle services including control, follow-up and registration inspections. Its first Swedish station opened in Tyresö in 2010 and today, the company has 118 stations and more than 300 employees in Sweden. Across Estonia and Latvia, Carspect has 34 stations and more than 150 employees. Since acquiring Carspect in 2018, IK has overseen the company's greenfield expansion in Sweden, with the opening of 42 new inspection stations, as well as additions to the marketing and pricing models across all markets. Additionally, IK has supported the expansion of the Estonian and Latvian businesses through both add-on acquisitions and organic growth.
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