Topro boost growth prospects after acquiring AssiTech and its award-winning AssiStep
Scandinavian mobility aids manufacturer Topro has announced the acquisition of AssiTech, the developer of the AssiStep, an award-winning mobility aid for stairs.
Designed and developed in Norway, the AssiStep is a mobility aid which assists users with walking up and down stairs.
In a statement, Topro stated that the AssiStep addresses a sizeable and growing market – people who want to stay active and live at home for longer – and at a much lower cost compared to a traditional stairlift.
Topro has been a recognized provider of rollators and other walking aids for more than 30 years. According to the firm, approximately 100,000 of its rollators are sold annually across more than 25 countries.
With its leading market position and extensive distribution capabilities, Topro stated that it is uniquely positioned to capitalize on the market opportunity represented by the AssiStep.
Asbjørn Eskild, CEO of Topro commented: “It is with great pleasure that I welcome AssiTech to the Topro family. This is a great complement to our existing offering of mobility aids.
“Furthermore, with the AssiTech founders and team onboard, we will further strengthen our competence and entrepreneurial thinking within Topro.”
The AssiStep started its journey back in 2012 when three students graduated from the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway.
Halvor Wold, founder and Managing Director of AssiTech stated: “We began our work developing the AssiStep as students at NTNU. Our aim was to make a completely new and revolutionary walking aid to enable more people to live at home for as long as possible.
“The AssiStep is now available in more than 15 countries, and the company has doubled its revenue the last two years. As part of the Topro group, we can benefit from Topro’s distribution strengths and operational experience to further grow and develop the AssiStep in the years to come.”
Over the last 3-4 years, the number of units sold of the AssiStep has grown by more than 30 per cent per year on average, largely driven by growing export volumes. It has also won several design awards in recent years.
Following the acquisition, the AssiTech founders will continue running the AssiStep business as part of the Topro group.
Since early 2018, Topro has been majority owned by Serendipity Partners and Investinor.
Egil Bodd, chairman of the board of Topro and Managing Partner of Serendipity Partners commented: “Topro’s premium rollators and the AssiStep are important products to enable an ageing population to remain active and live at home longer. Which in turn represents a substantial economical and welfare benefit for the society at large.”
Thomas S. Wrede-Holm, board member of Topro and Investment Director at Investinor said: “The AssiStep is a great fit with Topro and will further strengthen our position as a leading provider of high-quality and innovative walking aids and welfare technology.”
Topro, which ended its distribution agreement with rollator firm Rollz last year, is currently looking to fill two Key Account Manager roles in the UK.
