Etac Group divests Etac Bil AS to Auto Solutions Group ApS
Etac AB, a portfolio company of Swedish investment company Nordstjernan, announces the divestment of Etac Bil AS to Auto Solutions Group ApS (ASG).
Etac Bil is one of Norway’s largest companies within the vehicle adaptation industry, with a history dating back to 1986. Etac Bil is represented by 12 locations and currently has over 100 employees. The company adapts cars for people with disabilities and also offers other types of vehicle adaptations for companies and public municipalities. Etac Bil is an importer and dealer of vehicle equipment from the German quality brand Bott. The company had revenues in 2023 of approximately US$23 million. Etac Bil will be run as an independent company within ASG and the change of ownership will not entail changes in organization or product areas.
Annbjørn Vasdal, CEO at Etac Bil, said: “We deliver technically advanced solutions that require special expertise. We are therefore happy to have become part of a larger group within our field. This forms a good basis for us to develop even better solutions and create opportunities for more customers. We will continue to develop the company within the same “DNA” with the history and the strategies we have put in place before the change of ownership.”
The ASG group was established in Denmark in 2019 as a market-leading and innovative group, with the vision of being able to deliver safe and functional products of high quality, both locally, nationally and internationally. ASG benefits from the talent pool, industrial know-how and solid market insight that exists across all units in the house. The group owns, among others, the recognized companies Langhøj, Handimobil, Autoa and AutoProducts.
“We believe that if you want to succeed in this industry going forward, you must be large and able to have synergies. We are the largest in Denmark with almost 45 years of experience in our field. We are humbled and happy that we are now bringing Etac Bil AS, as one of the largest in Norway with almost 40 years of experience, into our family. It strengthens us as a group”, said Kenneth Peter Jensen, CEO of Auto Solutions Group.
Etac Group is a world-leading developer of innovative assistive devices and patient handling equipment used in home care, long-term and acute care. Etac Group had a turnover of US$437 million in 2022 and has approximately 1,500 employees.
Michael Wirzberger, CEO of Etac AB, said: “The sale of Etac Bil is a natural step in focusing on our core business, and we consider ASG to be the right long-term owner of Etac Bil. The transaction will benefit both employees, customers and suppliers. ASG will be able to continue to develop the company and ensure even better solutions for those who need car adaptations in the future.”
Oaklins’ team in Norway served as the exclusive financial advisor to Nordstjernan and its portfolio company Etac AB in this transaction.
CEO, Etac Bil AS
Talk to the deal team
Einar W. Solheim
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