German holding company Arques Industries AG has agreed the purchase of Auto Windscreens.
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Auto Windscreens, the second largest automotive glazing solutions company in the UK, has been acquired from Aviva by the quoted German business. Auto Windscreens will be Arques’ first UK acquisition. Aviva purchased the business in 2005 as part of its acquisition of RAC.
The sale process should be completed by the end of December 2008, subject to regulatory approvals. The existing senior leadership team will continue to lead the business
Auto Windscreens employs nearly 1800 people throughout its UK-wide operation, which encompasses 98 fitting centres and more than 600 mobile fitting units. The company also solely owns a windscreen manufacturing division and a contact centre, both of which are based at Auto Windscreens’ head office in Chesterfield, Derbyshire.
Commenting on the sale of Auto Windscreens, Managing Director Abu-Haris Shafi said: “My message to all customers and colleagues is that it is very much business as usual. Exciting times are ahead for Auto Windscreens and I am delighted that Arques will be working with us to achieve our vision of being the leading automotive glazing services provider.
“We have a business model that enables us to maximise customer service and deliver competitive commercial propositions. I am confident that being part of the ARQUES portfolio we have the investment needed for us to drive forward in the marketplace.”
Arques specialises in the restructuring and development of companies. Arques has grown its portfolio substantially over the last few years, buying a number of businesses similar to Auto Windscreens, representing a variety of markets, including motoring services.
