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
GroGlass has been acquired by Apogee Enterprises
Apogee Enterprises, Inc. (Nasdaq: APOG), a leading US provider of architectural building products, services and high-performance coated materials, has acquired GroGlass, a Latvia-based developer and manufacturer of high-performance anti-reflective and UV-protective glass coatings. The acquisition brings GroGlass’ differentiated coating technologies and materials science expertise into Apogee’s performance surfaces segment, broadening its product offering and market reach while expanding its manufacturing and R&D presence in Europe.
Learn moreCapvis has sold hessnatur to Wourth Group
Hess Natur-Textilien GmbH & Co. KG has become part of the international Wourth Group. With the change of ownership from Capvis to Wourth Group, hessnatur is entering its next phase of development. The transaction reflects the company’s successful strategic and business development in recent years, and creates a strong foundation for the future.
Learn moreNymann Kloak- & Miljøservice has been acquired by Serwent Group
Nymann Kloak- & Miljøservice has been acquired by Serwent Group. The acquisition expands Serwent’s footprint in Denmark while broadening its service offering and strengthening capacity across its existing platform. This transaction further supports Serwent’s ambition to become the leading Nordic operator in underground infrastructure maintenance.
Learn more