Connect with us

Collision

Belron to Acquire Safelite

Belron S.A., one of the world’s largest vehicle glass repair and replacement companies, has announced plans to acquire Safelite Group Inc., a leading U.S. provider of replacement and repair services as well as automotive glass insurance claims management, retail fulfillment, automotive glass manufacturing and wholesale distribution. The transaction is expected to close in March and the integration of Belron Inc., the U.S. operation of Belron and Safelite operations will begin at that time. Upon closing, the newly combined organization will be called Belron.

Advertisement

COLUMBUS, OH — Belron S.A., one of the world’s largest vehicle glass repair and replacement companies, has announced plans to acquire Safelite Group Inc., a leading U.S. provider of replacement and repair services as well as automotive glass insurance claims management, retail fulfillment, automotive glass manufacturing and wholesale distribution.

Advertisement

The transaction is expected to close in March and the integration of Belron Inc., the U.S. operation of Belron and Safelite operations will begin at that time. Upon closing, the newly combined organization will be called Belron.

"This acquisition is the early phase of an overarching plan to profitably grow market share in an industry teeming with potential," said Dan Wilson, president and chief executive officer of Safelite Group. "Growth will be organic and through additional strategic, targeted acquisitions. Safelite’s customers, business partners and staff will benefit from a parent company with a global focus on the automotive glass industry. Belron is passionate about sharing best practices globally and has profitable growth at the center of its U.S. ambitions."

Advertisement

The merged Safelite Group and Belron Inc. operations will have less than 20 percent market share in the United States. Belron posted global sales of $1.5 billion in 2005. Belron is a subsidiary of Belgium-based D’Ieteren.

"Belron’s 110-year track record of global success will position the combined Belron Inc. and Safelite companies with opportunities to provide more locations, increased capacity and expanded service offerings to individual consumers as well as insurance, fleet and commercial customers," said Gary Lubner, group chief executive officer of Belron. "Leveraging the strength of Belron and Safelite Group’s portfolio of brands, the combined companies will be in an optimal position to profitably grow each business segment: insurance, fleet, commercial, consumer and wholesale."

Advertisement

Upon closing of the transaction, the senior leadership of the new entity, Belron U.S, would include from Safelite Group: Dan Wilson, president and chief executive officer; Thomas Feeney, executive vice president and chief client officer; Douglas Herron, executive vice president and chief financial officer; and Mark Smolik, senior vice president, general counsel and secretary, associate services, ethics officer. Additionally, Rich Harrison, current CEO of Belron Inc. will lead the integration of the two companies and be responsible for business development as senior vice president, strategy and business development. Wes Topping, current non-executive chairman of Belron Inc., will join the Belron U.S, board in a non-executive capacity and will continue to search for additional strategic acquisitions.

Advertisement

The two companies said there is minimal overlap of resources between Safelite Group and Belron Inc. At this point it appears that 99 percent of the combined work force of 6,500 nationwide will not be affected by the merged operation.

William Blair & Company acted as financial advisor for the transaction.

For more information about Safelite, go to: www.Safelite.com.

To learn more about Belron, go to: http://www.Belron.com.

Advertisement

POPULAR POSTS

Sponsored Content

Warn Your Customers About Water Pump Failure During the Summer

Connect
aftermarketNews