Belron welcomes today’s announcement that an agreement has been signed with Hellman & Friedman, funds and accounts managed by BlackRock Private Equity Partners (‘BlackRock’) and GIC by which these three investors will acquire a shareholding of up to 13% in aggregate in Belron.
Belron’s new shareholders are leading, blue-chip investors. As such they have many choices for investment and it is testament to the strength of Belron and the company’s growth plans that they have decided to back the business. They are acquiring Belron shares from funds managed by Clayton, Dubilier & Rice (CD&R), who will retain a shareholding of approximately 24% in Belron. CD&R remains fully committed to Belron and intends to remain a long-term investor in the company.
CD&R has been a highly constructive shareholder in Belron since 2018. Belron has benefited from its insight and support and will continue to do so.
D’Ieteren remains Belron’s majority shareholder, as it has been for 22 years. In that time, Belron has benefited from its support and guidance also, and will continue to do so.
Commenting on the announcement, Gary Lubner, Belron chief executive, said:
“We look forward to welcoming our new shareholders and thank them for the confidence that their investment demonstrates in us. We have always sought to have a strong commitment to hard work and excellence as well as a determination to provide first class customer service. For all of us at Belron we continue to invest in and grow the business for the long term based on our values.”
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Operating in 40 countries across 6 continents through wholly owned and franchise operations, Belron is home to around 27,000 employees who served 14.9 million customers in 2020. Belron is the world’s leading vehicle glass repair and replacement group. Our key brands include Carglass®, Safelite AutoGlass®, Autoglass® , Lebeau®, O’Brien®, Smith&Smith® and Speedy Glass®.