The Stair Walker -> News and articles -> TOPRO boosting growth prospects by acquiring AssiTech and its award-winning and innovative mobility aid for stairs, the AssiStep

Gjøvik, (27 August 2021). Topro Industri AS (“TOPRO”) announces today the acquisition of AssiTech AS (“AssiTech”) – the developer of the AssiStep. Designed and developed in Norway, the AssiStep is an innovative mobility aid assisting users walking up and down stairs. Enabling people to stay active and live at home for longer, the AssiStep addresses a sizeable and growing market. And at a much lower cost compared to a traditional stair lift.

From left: Managing Director of Assitech, Halvor Wold and Managing Director of TOPRO, Asbjørn Eskild

The AssiStep is a great addition to TOPRO’s existing portfolio of innovative and premium mobility aids. With its leading market position and extensive distribution capabilities, TOPRO is uniquely positioned to capitalize on the market opportunity represented by the AssiStep.

“It is with great pleasure that I welcome AssiTech to the TOPRO family. The AssiStep is a walking aid for stairs, like a rollator is for flat surfaces, and help keep the users active. 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”, says Asbjørn Eskild, CEO of TOPRO.

Background

The AssiStep started its journey back in 2012 when three students graduated from the Norwegian University of Science and Technology (“NTNU”) in Trondheim, Norway.

“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”, says Halvor Wold, founder and Managing Director of AssiTech.

Over the last 3-4 years, the number of units sold of the AssiStep has grown with more than 30% p.a. on average largely driven by growing export volumes. The AssiStep addresses a sizeable niche market with attractive fundamentals supporting a solid outlook and continued growth. Following the acquisition, the AssiTech founders will continue running the AssiStep business as part of the TOPRO group.

TOPRO

TOPRO has been a recognized provider of rollators and other walking aids for more than 30 years. Since early 2018, TOPRO has been majority owned by Serendipity Partners and Investinor.

“AssiTech and TOPRO are both excellent examples of Norwegian businesses that successfully develop and manufacture quality products largely for export in competitive niche markets. TOPRO’s premium rollators and the AssiStep are important products to enable an aging population to remain active and live at home longer. Which in turn represents a substantial economical and welfare benefit for the society at large”, comments Egil Bodd, chairman of the board of TOPRO and Managing Partner of Serendipity Partners.

With some 100,000 rollators sold annually across more than 25 countries, TOPRO is the leading developer and manufacturer of premium rollators globally.

“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. With the backing of TOPRO, we are confident that the AssiStep is well positioned to crystallize its inherent potential”, says Thomas S. Wrede-Holm, board member of TOPRO and Investment Director at Investinor.

About AssiTech:

AssiTech develops and manufactures the AssiStep – an innovative walking aid for stairs helping people live more actively and independently in their daily lives without relying on others for help. The AssiStep has won several design awards in recent years and is sold in more than 15 countries. The company is located in Trondheim, Norway.

www.assistep.com

About TOPRO:

TOPRO is a world leading developer and manufacturer of mobility aids – premium rollators for indoor and outdoor use, walkers, ramps, rise and recline chairs and other home care aids. TOPRO's rollators are known for its design, user-friendliness and quality, and are supplied to more than 25 countries worldwide. Local production and proximity to its main markets enable TOPRO to maintain a strong focus and commitment to sustainability and quality. The company's head office and manufacturing plant is located in Gjøvik, Norway.

www.topromobility.com