Cary Group buys Belgian Autoglass Clinic
The Swedish Cary Group has acquired Autoglass Clinic, Belgium’s number two in car glass repair service. The company's name as today’s management team, with Charline Leroy and Joeri Lieten, remains in place.
Having a proven track record, as revenue has doubled over the past three years, Leroy and Lieten will continue to oversee daily operations at Autoglass Clinic, backed by the digitalisation processes from its new owner. But as the Cary Group simultaneously bought Touring Glass, the number three in Belgium, their new task is to integrate the activities of both companies. The name Touring Glass disappears in favour of Autoglass Clinic.
Despite the merger, the Belgian market for car window repairs remains dominated by Carglass, as a subsidiary of D’Ieteren-owned Belron, accounting for more than 50% of the repairs. However, through the strategic move of the Cary Group, Autoglass Clinic can now rely on a more robust national network (67 workshops compared to 40 for Car Glass). Touring Glass was founded ten years ago to battle the dominant position of Carglass but was in a completely different stance than Leroy’s company as it never returned a profit.
Owned by two private-equity funds, Cary Group seeks to grow by consolidation in a declining vehicle glass repair market. Its reported revenue was 400 million euros last year. With the takeover, the group is now present in more than 1 400 workshops from Belgium, Luxemburg, Germany, Austria, Spain, Portugal, the UK, Norway, Denmark as well as its hometurf Sweden.
"The acquisition of both companies is in line with our ambition to create a strong second player in the European market.”, commented CEO of Cary Group Anders Jensen.
Image Source: Autoglass Clinic