Summer vacation was at risk for owner-manager: Growth journey hanging by a thread

At the service company STYREG, headquartered in Galten, the peace of summer was briefly interrupted four years ago when an unexpected financing challenge suddenly threatened to delay the company’s next crucial step on its growth journey.

“I was sitting in my allotment garden when I found out that our existing bank would only finance 60% of our new headquarters property – not 100% as we had expected. That put us under pressure.”

So says Thomas Rask, CEO and co-owner of STYREG, specialists in Danfoss frequency converters as well as energy optimization of buildings and production environments.

With around 60 employees and primary operations in Denmark, Norway, and Sweden – along with service assignments on ships and industrial sites around the world – STYREG is a company accustomed to solving complex technical tasks with high precision and flexibility. The organization is small but highly specialized, ensuring efficient and targeted solutions for its customers.

For STYREG, it was therefore essential to resolve the financing challenge immediately so that growth plans would not be put on hold. But the issue arose right in the middle of the summer holiday season, when it can often be difficult to find anyone who answers the phone.

Fast solution with a focus on the future

Through his network, Thomas was recommended to contact kompasbank. He had heard that the bank was efficient, flexible, and particularly focused on SMEs like STYREG.

Shortly after, he was in dialogue with Relationship Manager Jeppe, who quickly familiarized himself with the situation and, in a short time, put together a flexible plan that matched STYREG’s needs.

“I spent a week in the allotment garden house on the phone with Jeppe, but it was worth it. Within a few weeks, we had the financing in place. That lowered my stress level considerably – and I could once again enjoy the summer in the garden,” says Thomas.

The final 40% of the financing, which kompasbank secured, was crucial for STYREG to complete the new headquarters property. It enabled the company to keep up with rising demand, establish its own warehouse with Danfoss VLT frequency converters, training facilities, and at the same time expand the business with the new service division, STYREG Heating, specializing in Danfoss heating, ventilation, and domestic hot water systems.

The collaboration continues – with a focus on growth

This became the beginning of a strong partnership, where STYREG immediately noticed a difference. In the following two years, revenue grew according to plan – well supported by the flexible financing of the new headquarters that kompasbank helped make possible.

Four years later, the relationship and collaboration still deliver value.

“If we hadn’t received that quick and flexible help back then, we would not have been able to lay the foundation that has allowed us to grow so significantly. Jeppe and kompasbank know our business and follow us closely. That makes a big difference,” says Thomas.

A bank that is growth-oriented

For STYREG, it has been crucial to be able to draw on multiple financing options as needs have changed. And as Thomas experienced, working with kompasbank requires neither exclusivity nor complicated changes.

“All along, it has been an advantage that kompasbank cooperates with our regular bank and only focuses on finding the solution that fits us best. That provides flexibility – and saves time,” says Thomas.