IK Partners completes the sale of Carspect Group to TÜV SÜD

IK Partners (“IK”) is pleased to announce that the IK Small Cap II Fund (“IK SC II”) has completed the sale of Carspect Group (“Carspect” or “the Company”) to TÜV SÜD. Financial terms of the transaction are not disclosed.

Headquartered in Bromma, Sweden, Carspect Group is a leading provider of vehicle inspection services in Sweden, Estonia and Latvia. It carries out a range of 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 collaborated closely with the Company’s management team to foster business growth through several strategic initiatives. These include greenfield expansion in Sweden, with the opening of 42 new inspection stations, as well as enhancements 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.

Markus Falk, CEO of Carspect Group, added: “We would like to thank the team at IK Partners for their unwavering support since 2018. With their market knowledge and expertise, we have driven significant growth in our primary markets and identified exciting opportunities for inorganic growth. We are looking forward to working with TÜV SÜD as we target continued growth.”

Kristian Carlsson Kemppinen, Managing Partner at IK Partners and Advisor to the IK Small Cap II Fund, said: “We are proud of what we have been able to achieve with the excellent management team at Carspect during our years of ownership of the business. We wish them luck in the next stage of their development.”

Patrick Fruth, CEO Division Mobility at TÜV SÜD, said: “The acquisition of Carspect is a further step in our internationalisation strategy. It gives us access to three key markets with high growth potential. In addition, Carspect’s dynamic, entrepreneurial concept with test centres convenient for its customers and an innovative process for digital customer journeys, is an excellent fit for our own approach at TÜV SÜD.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com