MPS Bilskade has been acquired by Cary Group
January 2022 — The private shareholders of MPS Bilskade AS have sold a 100 % stake in the company to Cary Group AB, backed by Nordic Capital.
MPS Bilskade is Norway’s largest auto body repair chain comprising 63 workshops. It operates nationwide, focusing on the small repair market segment, offering services such as dent repairs, paint damages repair, edge rims and PDR, amongst others. The chain is organized under a common brand identity, aimed at offering its members clear economic and administrative benefits. Its key focus is on generating business volume for the members, combined with centralized purchases, training, as well as improving skills and competence. In a fragmented auto body repair market, MPS is a strong market leader with a chain revenue footprint of about NOK 1 billion (US$112 million).
Cary Group provides sustainable damage repair and car care services, with business operations in Sweden, Denmark, Norway, the UK and Spain. It specializes in the repair and replacement of vehicle glass, with a complementary range of services in auto body repair and SMART repair. With good accessibility for customers, high-quality products and smart solutions, the group helps its customers make simplified and sustainable choices. At the time of this announcement, Cary Group had a total of 524 workshops and 397 mobile units with over 1,300 employees. Cary Group has been backed by Nordic Capital since 2018, a leading European private equity investor, and was listed on the Nasdaq Stockholm Exchange in September 2021.
“We are pleased to welcome MPS Bilskade to the Cary Group family. This acquisition will enable us to offer additional services, with more workshops to carry out both minor and major auto body repair. With its large network of workshops across the whole of Norway, the complementary acquisition of MPS Bilskade gives us a strong market presence in Norway and continues the expansion of our offering to our insurance companies”, says Anders Jensen, CEO of Cary Group.
Our role in the transaction
Oaklins’ team in Norway acted as sell-side financial advisor to the shareholders of MPS Bilskade AS.
Talk to the deal team
Related deals
Valuation advisory has been provided to a co-investor in VDK
EMK Capital has transferred VDK Groep B.V. from EMK Capital Partners Fund I into the newly established US$1.4 billion single-asset continuation fund, the EMK VDK Partnership Fund, alongside a co-investment from EMK Capital Partners Fund III. The transaction, co-led by LGT Capital Partners and Coller EQT, provides existing investors with the opportunity to retain their exposure to VDK while securing additional capital to support the company’s continued growth and buy-and-build strategy.
Learn moreBe-Cloud has been acquired by PSG Equity
Be-Cloud, backed by B&Capital since 2021, has been acquired by PSG Equity, a leading growth equity firm specializing in software and technology-enabled services. The transaction marks the full exit of B&Capital and the reinvestment of Be-Cloud’s founders, Lenny and Sébastien Vercruysse, alongside PSG Equity.
Learn moreMattina Holding has sold a 5% stake in Gens Aurea via accelerated bookbuild
Mattina Holding S.A. (DVC Partners) has sold a 5% stake in Italian company Gens Aurea S.p.A. through an accelerated bookbuild, raising approximately US$69.96 million.
Learn more