Cary Group continues the expansion of operations in the Nordic region

Cary Group has signed an agreement to acquire 100% of Hellestö Karosseri in Stavanger, Norway. The company specializes in damage repair with the largest insurance companies as customers. Hellestö Karosseri is an authorized service and damage workshop for Tesla, Jaguar, Range Rover and other major brands. The company was founded in 2003 and has been a franchise workshop for MPS Bilskade which is already owned by Cary Group since 2007.

"We are pleased to welcome Hellestö Karosseri to Cary Group and part of our Norwegian company MPS Bilskade. This is the third acquisition in Norway with a focus on damage and paint repair and thus a good complement to our business for replacing and repairing of vehicle glass. The expansion of our service offering is an attractive offer to insurance companies and Stavanger is an important location as part of the expansion of our workshop network. Hellestö Karosseri is a very well-run business with a good leader in Karsten Hermansen and we look forward to working together with Karsten and his employees, says Mats Green, Nordic Manager for Cary Group.

The company, which was founded in 2003, is run by Karsten Hermansen, who remains with the company as manager. Hellestö Karosseri has 25 employees, the majority of whom are damage technicians. The turnover for 2022 amounted to NOK 46 million. The acquisition will be completed on the first of August.

For more information, please contact:
Mats Green, Nordic manager Cary Group Phone: +46 70 633 31 36
Helene Gustafsson, Head of Communications Cary Group Phone: +46 70 868 40 50

Cary Group appoints Patrik Andersson as Chairman of the Board

Cary Group, a European leading vehicle glass repair and replacement company, has appointed Patrik Andersson as new Chairman of the Board. As the former CEO and President of Loomis AB, Patrik will be able to draw on his extensive experience from a service-oriented business in a company that has undergone an international expansion to support Cary Group’s continued growth and expansion journey.

“I am delighted to be appointed Chairman of the Board of Cary Group. I hope to contribute through my experience in building leading international businesses as Cary Group continues its successful journey to build a leading and trusted provider of vehicle glass repair and replacement services to Europeans. I have great respect for the company and how it contributes to building a safe and mobile society, today and in the future. The company’s trust in the workshop managers, relentless customer-centric approach, focus on a digital and sustainable offering plays an important role going forward. I look forward to working together with the management team in the next phase of the company”, says Patrik Andersson, Chairman of the Board of Cary Group.

Patrik Andersson was until May 2022 CEO & President of Loomis AB, one of the leaders in the global cash, payment and valuables handling industry, with a turnover of over 25 billion SEK. The company has operations in 23 countries, employs 25 000 employees and is listed on the Stockholm stock exchange. He joined the company as CEO & President in 2016 and has been vital in the internationalization of the company. He has also previously served as CEO of Orkla Foods Sweden and CEO & President of Rieber&Søn, Food Products. He currently serves on the Board of Midsona, Sesol, Ecolean and AAK.

"Patrik is a highly experienced leader with an excellent track record in the business services and consumer industry. He brings a unique set of skills and knowledge that will help Cary Group to scale and grow. The Board is enthusiastic about adding further expertise to build upon Cary Group’s expansion,” says Gustaf Martin-Löf, Chairman of the Board in Cary Group and Partner CVC Capital Partners.

“We are delighted to welcome Patrik as Chairman of the Board to Cary Group. The combination of Patrik and his breadth of experience with Anders Jensen, Cary Group’s CEO, and the rest of the management team will allow Cary Group to set new standards as part of its strategy to be one of the leading European Vehicle Glass Repair and Replacement companies”, commented Joakim Andreasson, Board Member of Cary Group and Managing Director, Nordic Capital Advisors.

Patrik takes up his post as chairman of Cary Group on 29 May. In connection with the change of chairman, Gustaf Martin-Löf has been appointed as a board member.

For further information, please contact:

Helene Gustafsson, Head of Corporate Communication, Cary Group
Tel: +46 70 868 40 50
Email: Helene.gustafsson@carygroup.com

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

Cary Group continues its European consolidation journey with the acquisition of Autoglass Clinic and Touring Glass in Belgium

Cary Group has signed an agreement to acquire the Belgian companies Autoglass Clinic and Touring Glass, both operating in Vehicle Glass Repair and Replacement. The acquisitions, which are part of Cary Group’s European consolidation journey, will create a strong platform in the Belgian market after the two companies have been integrated. The joint company will operate under the brand name Autoglass Clinic.

"We are very happy to welcome Autoglass Clinic and Touring Glass to the Cary Group family. Belgium is an attractive market with high vehicle glass repair and replacement insurance penetration. Autoglass Clinic has a strong number two position in the Belgian market and together with Touring Glass, number three in the market, we create an even stronger and larger platform. The expansion into Belgium is part of Cary Group’s European consolidation journey and growth agenda and the acquisitions create additional regional and national coverage for our insurance companies", says Anders Jensen, CEO Cary Group.

“Autoglass Clinic is very happy to announce that we from now on will be part of Cary Group, and that we are given the opportunity of housing Touring Glass in our company. I believe that Autoglass Clinic and Cary Group share the same DNA. Entrepreneurship, passion for the profession and local presence are crucial to us, as is sustainability. With our strong market position in Belgium, we are hoping to find synergies and ways of cooperation with the other companies in Cary Group that will bolster our business. With Cary Group’s strong focus on digital customer solutions and sustainable focus we are sure that this will benefit both the insurance companies and our end customers”, says Charline Leroi, owner of Autoglass Clinic.

Autoglass Clinic has its head office in Hasselt in central Belgium. The company has always been family owned and has a network of 27 Service Centers, 24 independent automotive glass specialists and three owned workshops with 25 employees. Touring Glass has 8 owned workshops and 33 employees.

The acquisition is expected to be completed during the second quarter of 2023.

For further information, please contact:

Anders Jensen, CEO Cary Group
Tel: +46 10 121 96 12

Helene Gustafsson, Head of Corporate Communication, Cary Group
Tel: +46 70 868 40 50
Email: Helene.gustafsson@carygroup.com

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

Cary Group publishes Sustainability Report for 2022

Cary Group, a leading European vehicle glass repair and replacement service provider, today publishes its Sustainability Report for 2022. Cary Group offers solutions that help sustain the life, value and safety features of vehicles. Caring for and repairing, instead of replacing, with social responsibility and minimal environmental impact, is the foundation of sustainable car care at Cary Group.

Cary Group’c CEO Anders Jensen comments:

“During 2022, we have successfully continued to build towards our vision of offering more customers sustainable solutions for smarter car care. Our vision is to lead the way in our industry when it comes to sustainability. During the year we made progress across all our three focus areas of sustainability – Climate, Our People and Governance. As we move into 2023, many key challenges of 2022 remain. However, I believe Cary Group is well equipped to deliver another successful year, thanks to our proven ability to manage change and the strength of the Cary Group team and of our business as a whole. 2023 will see us take more steps towards a more sustainable future, and it is with pride that we have committed to the Science Based Targets Initiative as a clear differentiator when it comes to reducing carbon emissions”.

Visit www.carygroup.com to access the full Sustainability Report.

For more information, please contact:

Helene Gustafsson, Head of IR & Corporate Communication
Tel.: +46 708 684 050
Email: helene.gustafsson@carygroup.com

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

Ryds Bilglas buys 180 new electric courtesy cars

Cary Group’s Swedish operation for repair and replacement of vehicle glass, Ryds Bilglas, has ordered 180 new fossil free Mini Cooper Electric cars to its fleet of courtesy cars. The company has previously been offering courtesy cars to customers in connection to pre-booked vehicle glass replacements, with the fleet of courtesy cars being partly electrified. The company now invests in the transformation of the fleet into a fossil free one, with the new cars that will be delivered starting from April 2023.

“Our customer offering includes a strong sustainability focus and we started with electric courtesy cars already in 2013. This past year we have continued to roll out around 40 electric courtesy cars and I am proud that we are now taking the next step to be able to offer customers a completely fossil free fleet of courtesy vehicles. Customer satisfaction and sustainability have for long been two important focus areas for us, and by making this investment we are offering customers a premium electrified car at the same time as we are reducing the carbon dioxide emissions – it’s a win-win!”, says Fredrik Karlsson, Country Manager Sweden, Cary Group.

In addition to working by the mantra “to always repair instead of replace when possible”, Ryds Bilglas has successfully launched several initiatives connected to sustainability in the customer journey. For example, the company offers a digital damage assessment tool on their website. This enables customers to make a damage assessment without having to drive to a workshop, hence reducing the emissions of carbon dioxide. Cary Group is climate neutral and provide services that are 100 percent climate compensated. This means that the company binds the same amount of C02 equivalent emissions that the company emits, so that the final sum becomes zero.

For more information, please contact:

Fredrik Karlsson, Country Manager Sweden, Cary Group

Telephone: +46703063736

Helene Gustafsson, Director Corporate Communication, Cary Group

Telephone: +46 708 684 050

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com

About Ryds Bilglas
Ryds Bilglas is a leading player in the repair and replacement of car glass with close proximity to the customer with over 150 workshops in Sweden. The company was founded in 1947 and is today part of Cary Group. For more information please visit www.rydsbilglas.se

Cary Group continues to expand operations in the Nordic region

Cary Group has signed an agreement to acquire 90% of Gotlands Plåt & Billack AB in Visby, Gotland. The company specializes in damage and body repair for several car brands and is an approved supplier to insurance companies. The company’s turnover amounted to SEK 22 million for 2022 and has 10 employees.

“We are pleased to welcome Gotlands Plåt & Billack AB to the Cary Group family. This will be our third workshop in Sweden with a focus on damage and body repair and thus a good complement to our business for replacing and repairing vehicle glass. The expansion of our service offering is part of our current growth agenda and an attractive offer to the insurance companies,” says Fredrik Karlsson, Country Director Sweden, Cary Group.

The company, which was founded in 2015, is run by Lars-Åke Hägglund. They have 10 employees, the majority of whom are sheet metal damage technicians and painters. The company’s net sales for 2022 amounted to SEK 22 million. The acquisition will be completed on 1 February.

During 2021 and 2022, Cary Group announced the acquisition of Danish Crashpoint A/S, Norwegian Quick Car Fix and MPS Bilskade AS, Swedish Autoklinik i Malmö AB and Swedish Sveaplans Bil, Plåt & Lack, which means an acquired turnover of approximately SEK 330 million in this Nordic vertical.

For further information, please contact:

Fredrik Karlsson, Managing Director Sweden, Cary Group
Tel: +46 10 102 99 36

Helene Gustafsson, Head of Corporate Communication, Cary Group
Tel: +46 70 868 40 50

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

About Ryds Bilglas
Ryds Bilglas is a leading player in the repair and replacement of car glass with close proximity to the customer with over 150 workshops in Sweden. The company was founded in 1947 and is today part of Cary Group. For more information please visit www.rydsbilglas.se

Cary Group acquires Dansk Bilglas

Cary Group has acquired Dansk Bilglas, a leading company in the repair and replacement of vehicle glass in Denmark. The acquisition means that Cary Group further strengthens its presence in its home region, the Nordics.

"We are pleased to be able to announce our acquisition of Dansk Bilglas. The acquisition means that we strengthen our market position in Denmark but above all our entire Nordic home region. We are the market leader in Sweden and now occupy a position as one of the leading players in Denmark. Dansk Bilglas, under the leadership of CEO Peter Stig Christensen, has recently achieved a strong market position with good profitability and customer relations", says Anders Jensen, CEO of Cary Group.

"My colleagues and I are happy to continue our growth journey together with the team that Ryds Bilglas has in Denmark. With an ambitious owner like Cary Group, it opens up new opportunities that our customers will see through, among other things, a strengthened network of workshops, increased digitization and a focus on sustainability", says Peter Stig Christensen, CEO of Dansk Bilglas.

Cary Group acquires 100% of Dansk Bilglas from the current owners, the French company Saint Gobain and the Mølbjerg family. Dansk Bilglas has 23 workshops and 25 mobile units. Cary Group already owns Ryds Bilglas in Denmark, active in the repair and replacement of car glass, and Crashpoint, active in damage repair. Ryds Bilglas will be integrated into Dansk Bilglas and the joint operation will operate under the Dansk Bilglas brand.

For more information, please contact:

Anders Jensen, VD, Cary Group
Tel: +46 10 121 96 12

Helene Gustafsson, Head of IR & Corporate Communication
Tel: +46 708 684 050
E-mail: helene.gustafsson@carygroup.com

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

Cary Group acquires Autoglas Luxemburg

Cary Group has acquired Autoglas Luxemburg, a vehicle glass repair and replacement company in Luxemburg.

“We are happy to announce our acquisition of Autoglas Luxemburg, yet another step in our European consolidation journey. The company has a strong market position and solid customer relations with both insurance-, fleet and leasing companies,” says Anders Jensen, CEO Cary Group.

Cary Group acquires 75% of Autoglas from its current owner Stéphane Deleuze who will remain as part owner in the business going forward. The company has four own workshops and one service point. Revenues for 2021 amounted to approximately 2 MEUR. Cary Group already has one workshop in Luxemburg via the German company Zentrale Autoglas, active in vehicle glass repair and replacement for bus and coach.

For more information, please contact:

Anders Jensen, CEO, Cary Group
Tel.: +46 10 121 96 12

Helene Gustafsson, Head of IR & Corporate Communication
Tel.: +46 708 684 050
Email: helene.gustafsson@carygroup.com

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

Cary Group appoints Regional Manager for Rest of Europe

Cary Group has appointed Peter Watters as Regional Manager for Region Rest of Europe and new member of the Cary Group Executive Management Team, effective November 1, 2022.

“Peter Watters is an experienced international leader who has successfully delivered strong results and growth in his previous roles. He has a long track record of developing high-performing organizations within the Vehicle Glass industry and I am confident that he, with his solid background and capabilities, will be a great Regional Manager for Region Rest of Europe. Rest of Europe is our largest region within Cary Group and UK our largest single market after the add on acquisition of Charles Pugh Holdings earlier this year. One of Peter’s initial and main focuses will be to fully support the UK team in integrating the businesses in the UK, implement synergies, improve operational efficiency and to increase profitability,” says Anders Jensen, CEO Cary Group.

“I am excited to be joining Cary Group as Regional Manager Rest of Europe and looking forward to leading the region through its next phase of development. Cary Group, as a European market leader specialising in sustainable solutions for repair, replacement and calibration of vehicle glass, is well positioned to provide the highest levels of service and care to both our customers and our business partners”, says Peter Watters.

Peter Watters has 25 years of experience from the Vehicle Glass industry, having spent a long international career at NSG Pilkington. His most previous role was Head of AGR Asia, Business Development & Commercial Director AGR Worldwide. Peter will in his role as Regional Manager for Region Rest of Europe be based in the UK.

For more information, please contact:

Anders Jensen, CEO, Cary Group
Tel.: +46 10 121 96 12

Helene Gustafsson, Head of IR & Corporate Communication
Tel.: +46 708 684 050
Email: helene.gustafsson@carygroup.com

About Cary Group
Cary Group specialises in sustainable solutions for vehicle glass repair and replacement, with a complementary offering in vehicle damage repair. With good accessibility, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. We call it Smarter solutions for sustainable car care. For more information, please visit www.carygroup.com.

CVC Funds and Nordic Capital completes the acquisition of Cary Group to support its accelerated European growth journey

CVC Fund VIII and Nordic Capital have completed the acquisition and delisting from Nasdaq Stockholm of Cary Group, a leading European vehicle glass repair and replacement service provider.

Cary Group, formerly Ryds Bilglas, is a leading vehicle glass repair and replacement provider, helping to prolong the life cycle of vehicles and maintain their safety features. The company provides its services with proximity to customers in Sweden, Denmark, Norway, the UK, Spain, Portugal, Germany, Luxembourg and Austria, aiming for a high quality, superior customer experience, whilst applying smart solutions to make sustainable car care easier.

Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors, commented: “Having been the principal shareholder of Cary Group for over four years, Nordic Capital has a strong commitment to this fantastic business. Together, CVC and Nordic Capital are ensuring Cary Group’s continued European growth journey and ability to keep pioneering the market for vehicle glass repair and replacement with a leading sustainability focus.”

Gustaf Martin-Löf, Partner, CVC, added: “We have followed Cary Group and its progress in the industry for some time and have been impressed by the growth that the company has achieved in recent years. Looking ahead, we see significant potential for Cary Group to accelerate this expansion, whilst driving operational excellence further. Together with Nordic Capital, we now look forward to providing the company with the right funding conditions, business know-how and geographical reach to strengthen its role on the European market.”

Anders Jensen, CEO Cary Group, said: “Our mission is to provide our customers with smarter solutions for sustainable car care, by offering services that sustain the life, value and safety features of vehicles. We have steadily expanded our business offering over the last five years and now, having partnered with two of the world’s most experienced investors, we are well-placed to accelerate our growth trajectory.”

Between 2018 and 2021, Cary Group invested significantly in initiatives to drive operational excellence and improve the sustainability of its operations, while also deploying an accelerated M&A strategy to expand outside Sweden with the ambition of becoming a leading provider in the Nordics.

CVC and Nordic Capital see a great opportunity across the fragmented European market for Cary Group to expedite its expansion and by staying at the forefront of digitalisation and sustainability within car care. With deep experience of growing businesses both organically and by acquisitions, combined with a broad global network of relationships, CVC and Nordic Capital will enable an accelerated execution in relation to Cary Group’s strategy.

The acquisition follows a public offer to the shareholders on Cary Group, unanimously recommended by the company’s Board of Directors. On 10 October 2022, CVC Funds and Nordic Capital owned 99.9 percent of the shares in Cary Group, through the commonly owned company Teniralc BidCo AB, and the offer was subsequently closed. The last day of trading in Cary Group’s shares on Nasdaq Stockholm was 18 October 2022.

For more information:

Cary Group

Helene Gustafsson
Director IR and Corporate Communications
Tel: +46 708684050
E-mail: helene.gustafsson@carygroup.com

Nordic Capital

Katarina Janerud
Communications Manager
Tel: +46 8 440 50 50
E-mail: katarina.janerud@nordiccapital.com

CVC
Nick Board
Director, Marketing & Communications
Tel: +44 207 420 9162
E-mail: nboard@cvc.com

About Cary Group

Cary Group provides sustainable damage repair and car care services and has business operations in Sweden, Denmark, Norway, the UK, Spain, Portugal, Germany, Luxembourg and Austria. It specialises in the repair and replacement of automotive glass, with a complementary range of services in auto body repair and SMART repair. With good accessibility for customers, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. For more information, please visit www.carygroup.com.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments.

Since inception in 1989, Nordic Capital has invested close to EUR 22 billion in 130 investments. The committed capital is principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

About CVC

CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately €133 billion of assets under management. Since its founding in 1981, CVC has secured commitments in excess of €163 billion from some of the world’s leading institutional investors across its private equity and credit strategies. Funds managed or advised by CVC are invested in over 100 companies worldwide, which have combined annual sales of approximately €100 billion and employ more than 550,000 people. For further information about CVC please visit: www.cvc.com. Follow us on LinkedIn.

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CVC Funds and Nordic Capital completes the acquisition of CaryGroup to support its accelerated European growth journey