Cary Group AB has acquired ExpressGlass Group, a major player in the Portuguese auto glass repair market, aiming to enhance operational efficiency and expand its European presence.

Information on the Target

ExpressGlass Group is a prominent player in the auto glass repair and replacement sector in Portugal. The group consists of three key entities: ExpressGlass, DiverAxial, and GlassCo. By the end of 2021, ExpressGlass Group had expanded its operations to include 90 stores nationwide, consisting of 44 owned locations and 46 affiliated stores. This marked a growth from the initial count of 82 stores at the time of acquisition, showcasing the company's robust presence across mainland Portugal and its islands.

Additionally, DiverAxial, a subsidiary within the group, plays a crucial role in providing wholesale auto glass products from its warehouses located in Porto and Lisbon. This operational model allows the ExpressGlass Group to cater not only to retail customers but also to a broader market by supplying products to businesses throughout the region.

Industry Overview in Portugal

The auto glass repair and replacement industry in Portugal has witnessed steady growth over the past few years. Factors contributing to this trend include an increasing vehicle ownership rate, heightened awaren