Livingstone advises Cary Group on the acquisition of Zentrale Autoglas

Livingstone has supported Cary Group AB in the acquisition of 75% in Zentrale Autoglas GmbH as exclusive financial advisor. Zentrale Autoglas is a market leader in repair and replacement solutions for buses, trucks, and mobile homes in Germany, with over 200 employees at 25 locations in Germany, Austria and Luxembourg.

Cary Group is a leading vehicle glass repair and replacement provider offering sustainable car care solutions in Sweden, Denmark, Norway, UK, Spain and now Germany. Founded in Sundsvall, Sweden in 1947 Cary Group has become a market leader in the Nordics with a growing presence in Europe with over 520 workshops and circa 400 mobile units in Scandinavia, UK and Spain.

Zentrale Autoglas was founded in 1988 and is based in Melle, Lower Saxony. It specialises on bus and mobile homes glass replacements and repairs and is the major player on the German market in this segment. It also offers solutions for trucks and in passenger car segment and has developed its own lightweight glass manufactured in various shapes. The company has 23 workshops across Germany, one workshop in Austria and one in Luxembourg and mobile units for emergency assistance. It generated revenue of over €27m in 2020. Zentrale Autoglas has established a strong brand and long-lasting relationships with its customers through high-quality services and reliability over 30 years’ experience in this field.

Ralph Hagelgans, Partner at Livingstone Partners comments: “We are pleased to have supported Cary Group in finding a strategic fit for the market entry in Germany and herewith be able to contribute to the realization of its pan-European expansion plans. The German glass repair and replacement market has maintained stable growth in the past years, and together with Zentrale Autoglas and its highly experienced management team Cary Group seizes the opportunity for further expansion of its existing markets and development of new business areas.”