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.
(I) Home assistance and maintenance policies to anticipate and repair breakdowns in plumbing, electricity, gas, household appliances, connected devices, (II) On Demand services for household maintenance and repairs available on an online platform and (III) HomeServe Energy Services, a subsidiary of HomeServe France, a network of heating professionals for the installation, maintenance and repair of all heating and air conditioning systems.
To provide quality service to its customers, HomeServe relies on 4000 qualified professionals. They carry out more than 215,000 jobs each year across France, the equivalent of 1 job every 2 minutes. HomeServe stands out for the quality of its customer service and was elected for the 5th consecutive year Customer Service of the year 2021 in the category “home services”.
Also recognized for its quality of life at work with the 2019 “Great Place To Work®” certification and the 2020 “Best WorkPlaces”, HomeServe employs 750 people in France, who are mobilised on a daily basis to satisfy more than 1,2 million customers.