Cary Group, a European market leader in vehicle glass repair and replacement services (VGRR), has signed an agreement to acquire 51% of the French company 123 Pare-Brise, a leading independent specialist in VGRR in France.
Founded in 2020 and headquartered in Marquette-lez-Lille and Bourgoin-Jallieu, 123 Pare-Brise operates a network of 129 company-owned workshops across France. The acquisition provides Cary Group with a strategic entry into the French VGRR market, which has significant size and growth potential. As a leading player in the French market, 123 Pare-Brise operates a fully integrated workshop network with a business model focused on direct-to-consumer sales. The company employs just under 900 people and has total sales of approximately €100 million.
“The acquisition of 123 Pare-Brise is a major milestone for Cary Group as we continue to expand our presence in Europe. The French market for repair, replacement and calibration of vehicle glass is a key part of the European market. Acquiring 123 Pare-Brise is a natural step in our consolidation journey and strengthens Cary Group’s position in Europe. We are impressed by the company’s strong growth, outstanding service quality and extensive workshop network, and we look forward to working closely with their talented team,” says Anders Jensen, CEO of Cary Group.
“We are excited to join forces with Cary Group, a company that shares our commitment to quality and customer satisfaction. This partnership will allow us to leverage Cary Group’s resources and expertise to further enhance our services and expand our reach in the French market,” say Norbert Sibert, Alberic Bienvenido, and Ludovic Vaesken, founders of 123 Pare-Brise.
The current management team of 123 Pare-Brise will remain in place to ensure continuity and drive the company’s growth following the acquisition.
Cary Group’s acquisition strategy focuses on platform acquisitions to enter new geographic markets, complementary acquisitions to strengthen its presence in existing markets, and smaller acquisitions to increase presence and achieve additional scale. Over the past four years, Cary Group has made several key platform acquisitions, including Autoglass Clinic and Touring Glass in Belgium, Dansk Bilglas in Denmark, Autoglas in Luxembourg, Expressglass in Portugal, Auto Cristal Ralarsa in Spain, and Zentrale Autoglas in Germany. These acquisitions have not only increased revenues but also established Cary Group in new markets, contributing to the consolidation of the highly fragmented European VGRR market.
