Change of Chairman of Cary Group is expected to take place after the listing

Cary Group has today published a prospectus in connection with the offering of shares and the contemplated listing on Nasdaq Stockholm. The prospectus states that the current chairman of the board, Magnus Lindquist, has informed that he desires to hand over the chairmanship after the listing on Nasdaq Stockholm. Board member Juan Vargues has declared that he is available to accede as the new chairman of the board. Magnus Lindquist will remain a member of the board, meaning that the composition of the board is otherwise unchanged.

Cary Group’s principal shareholder, Cidron Legion S.à r.l. (the “Principal Shareholder”), indirectly controlled by the Nordic Capital VIII[1], has announced to the board that it, in connection with the publication of the Cary Group’s interim report for the nine months ended 30 September 2021, intends to convene an extraordinary general meeting for a resolution on the aforementioned changes of the board. A decision to appoint Juan Vargues as the new chairman of the board requires that Juan Vargues receives more than half of the votes cast at the extraordinary general meeting. The Company’s Principal Shareholder supports a decision to appoint Juan Vargues as the new chairman of the board.

“During my chairmanship, I have seen Cary Group grow into a market leader in the Nordic region and carry out a successful European expansion. Through an acquisition strategy and focus on customer satisfaction, management and employees have delivered profitable growth and maintained a strong market position”, says Magnus Lindquist, Chairman of the board of Cary Group.

“Cary Group has a strong customer offering with a clear focus on sustainability and has grown into a Nordic market leader with strong positions in the UK and Spain. Supported by structural growth trends and an acquisition agenda, the company is well placed to continue to grow both organically and through acquisitions in order to continue to drive the consolidation of the European market for repair and replacement of vehicle glass. I look forward to supporting the company in the European growth journey and to achieve the financial goals adopted by the board ", says Juan Vargues, Board member of Cary Group.

For more information, please contact:
Magnus Lindquist, Chairman or +46 73 316 09 63

Juan Vargues, Board member or +46 70 640 0765

Helene Gustafsson, Head of IR & Corporate Communication at Cary Group or +46 70 868 40 50

[1] References to “Nordic Capital VIII” in this press release refer to Nordic Capital VIII Alpha, L.P. and Nordic Capital VIII Beta, L.P. (acting through its general partner Nordic Capital VIII Limited).