Cary Group expands into France through acquisition of 123 Pare-Brise

Cary Group, a European market leader in vehicle glass repair and replacement (VGRR) services, has signed an agreement to acquire 51% of the French company 123 Pare-Brise, a leading independent VGRR specialist in France.

Founded in 2020 and headquartered in Marquette-lez-Lille and Bourgoin-Jallieu, 123 Pare-Brise operates a network of 129 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 with a fully integrated network of workshops and a business model that is focused on direct-to-consumer sales. The company employs just under 900 employees with total sales of approximately 100 MEUR.

"The acquisition of 123 Pare-Brise is a significant 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 an important part of the European market. The acquisition of 123 Pare-Brise is a natural step in our consolidation journey and strengthens Cary Group’s position in Europe. We are impressed by the strong growth of the company, the exceptional quality of their services and 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 enable us to leverage Cary Group's resources and expertise to further enhance our services and expand our reach in the French market", says Norbert Sibert, Alberic Bienvenu 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 post-acquisition.

Cary Group's acquisition strategy focuses on platform acquisitions to enter new geographic markets, add-on acquisitions to strengthen its presence in existing markets, and smaller acquisitions to improve its footprint 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 Luxemburg, Expressglass in Portugal, Auto Cristal Ralarsa in Spain, and Zentrale Autoglas in Germany. These acquisitions have not only increased revenue but also established Cary Group in new markets, contributing to the consolidation of the highly fragmented European VGRR market.

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.

About 123 Pare-Brise

Founded in May 2020 by industry experts, 123 Pare-Brise is a French brand specializing in the repair and replacement of all types of auto glass. With fast, reliable and accessible services, it has established itself as a benchmark player in France. 123 Pare-Brise is based in the Hauts-de-France and Auvergne Rhône Alpe regions of France and relies on a branch network to guarantee consistent quality of service in all its centres. With its strong workforce, the company will have 130 centres by early 2025 and has a clear ambition: to become the leading independent integrated network in France.