We are advising Gjensidige on acquiring 100% of the shares in Falck Räddningskår from Falck Investment Sverige, including subsidiaries in Norway, Finland, Estonia and Lithuania (Falck RSA Nordic & Baltics), for SEK 1.4 billion on a debt- and cash-free basis.
Strategy in focus
Falck RSA Nordic and Baltics is a leading roadside assistance provider with nationwide franchise networks in Sweden, Norway, Finland, Estonia and Lithuania. The acquisition is in line with Gjensidige’s strategy of taking a holistic approach to answering customers’ needs, and complements Gjensidige’s products and services in the Nordic mobility space. Closing is expected to take place in Q1 2022, subject to customary regulatory approvals. Falck RSA Nordic & Baltics will continue as a separate entity, and will remain under the current brand for a transition period.
A holistic approach to solving customers’ needs
Falck RSA Nordic & Baltics offers roadside assistance and call centre services including emergency repairs, tire replacements, battery and bulb changes, and battery boosters as well as general towing services. Falck RSA has an extensive network of around 370 startup locations in Sweden, Norway, Finland, Estonia and Lithuania. The group manages 1400+ franchise vehicles and owns around 60 vehicles. The group has around 260 employees, and in 2020 recorded EUR 75.8 million in revenue and EUR 6 million in EBITA.
“Our key priority over the next years is to maintain and further strengthen our direct customer relationship and become an even better and more relevant partner for our customers. Falck RSA Nordic & Baltics’ road assistance services is a very good strategic fit for us and provides a natural complement to our offerings in the mobility space, with focus on convenience for our customers”, says CEO of Gjensidige, Helge Leiro Baastad.
Our services and client team
We are advising Gjensidige in Baltic matters, including legal due diligence of the Estonian and Lithuanian businesses, merger filings, and closing support at all stages of the transaction, including support in legal due diligence, negotiating, and preparing transaction documents, and supporting in closing and post-closing matters. We are also advising the client in relation to competition law matters.