DGAP-News

Mutares SE & Co. KGaA: Mutares successfully completes the acquisition of the majority stake in Carglass Maison Group from Belron

DGAP-News: Mutares SE & Co. KGaA / Key word(s): Investment/Takeover Mutares SE & Co. KGaA: Mutares successfully completes the acquisition of the majority stake in Carglass Maison Group from Belron 09.04.2021 / 07:25 The issuer is solely responsible for the content of this announcement. Mutares successfully completes the acquisition of the majority stake in Carglass Maison Group from Belron

- Co-investment between Mutares and HomeServe France

- Strengthening the Goods & Services segment

- Company with revenues close to EUR 45 million

 

Munich/Paris, 9 April 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of the majority stake of 80% of Carglass Maison Group (CGM) from Belron. The transaction is structured as a co-investment with HomeServe France who will own the remaining 20% of the shareholding rights of CGM. The rebranding of the company will take place during the next months.

Carglass Maison, based in Tours, France, is a renowned French home repair and emergency specialist. The company targets insurers, assistors, asset managers and private owners through a network of 28 agencies, 300 in-house technicians and 1,200 subcontractors throughout France. Its two main activities are emergency repairs and planned works and renovations. In 2019, CGM completed more than 88,000 orders generating around EUR 45 million in revenues.

To support the business with new transformation projects, Mutares has entered into a strategic partnership with HomeServe France, a leading home repair and maintenance specialist. Carglass Maison will benefit from the scope of its service offerings, the current favorable market dynamics, the significant commercial synergies with the HomeServe France network and the investment in new IT tools to improve customer service and order execution.

Company profile HomeServe France

HomeServe France is a subsidiary of the British company of the same name, which is a world leader in home services, present in 8 countries and listed on the London Stock Exchange. With the mission to simplify home repairs and improvements, HomeServe France has been the leading service company in its market for 20 years. HomeServe offers a range of 3 services on the French market.