Browne Jacobson dealmakers advise shareholders on the sale of automotive glass distributor Charles Pugh to international sustainable car care group
Browne Jacobson’s corporate dealmakers have advised the shareholders on the sale of UK market leading automotive glass specialists, Charles Pugh Holdings to Swedish listed company, Cary Group for an undisclosed sum.
Browne Jacobson’s corporate dealmakers have advised the shareholders on the sale of UK market leading automotive glass specialists, Charles Pugh Holdings to Swedish listed company, Cary Group for an undisclosed sum.
Family run business Charles Pugh was founded in 1917 and is headquartered in the Midlands. The business employs over 500 people and operates 28 vehicle glass repair and replacement workshops and 190 mobile units. It also has a wholesale business where it sells vehicle glass to a large client base dotted across the UK.
Cary Group, which is certified as climate neutral specialises in sustainable car care solutions for repair and replacement of vehicle glass to the European market. The business employs 1,500 people across its 929 workshops and mobile units which are located in Sweden, Denmark, Norway, Spain and the UK.
Ed Pugh and David Pugh of Charles Pugh Holdings said:
“We are delighted that this deal got over the line smoothly and promptly. Browne Jacobson have an excellent reputation in the market for providing strong clear commercial advice and making their clients feel at ease, even in the some of the more critical stages of a deal and that is exactly how we felt. They collaborated effectively with all of the parties involved so we felt we were in safe hands to achieve the best outcome for all.”
The deal was led by Browne Jacobson partner and head of the firm’s corporate finance practice, Richard Cox and senior associate, Sam Sharp.
Richard Cox added: “We are pleased to have supported the Pugh family in this important and complex international transaction which reflects the continuous trend for overseas businesses looking to invest in the UK’s robust and stable business market.
“The business will now be able to move their excellent operation on to a new and exciting phase which presents an opportunity to tap into new international markets and expand its product line with more sustainable vehicle glass solutions, whilst the Cary Group will now become market leaders in the UK’s automotive glass distribution sector.”
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