Belron enters an agreement to acquire the assets and operations of Laser Group which, through its members, provides services to home owners in plumbing and electrical services in Australia and New Zealand
Belron, through its subsidiaries O’Brien® Australia and Smith&Smith® New Zealand, has entered into an agreement to acquire, subject to finalisation of due diligence, the assets and operations of Laser Plumbing and Electrical Group ANZ (“Laser Group”). Laser Group, through its members, provides plumbing and electrical services to both B2C and B2B customers across Australia and New Zealand. This planned acquisition is fully aligned to Belron’s service extension strategy.
Laser Electrical was founded in Auckland, New Zealand, in 1983. In 1999 the owners re-developed the business model and launched a franchise system that would create value for like-minded electrical businesses. This steadily expanded throughout New Zealand and in 2004 they moved internationally into Australia. After seeing the synergies between the capabilities required in electrical and plumbing they quickly continued with the creation of Laser Plumbing in 2006 followed by its rapid expansion across both countries.
Laser Group is now the largest Electrical and Plumbing services franchise in Australasia. Its membership network has national coverage across both geographies with over 239 franchise members, employing c.2500 people and solving over 320,000 customer problems a year. This generates circa EUR 7 million of gross income for Laser Group.
As part of its service extension strategy, Belron® identified the home repair market as one in which it could utilize its skills and expertise in order to bring value to both final clients and insurance partners through the provision of a branded, high quality service solution.
Axel Miller, CEO of D’Ieteren, said “Following the acquisition of Maisoning Group in France, this agreement is another step forward for Belron’s service extension strategy, which is perfectly in line with its purpose of Making a Difference by Solving People’s Problems with Real Care”.
More information about Laser: www.lasergroup.com.au
End of press release
In existence since 1805, and across family generations, D’Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The group has currently three activities articulated around strong brands:
- D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 22% and 1.2 million vehicles on the road at the end of 2016. Sales and adjusted operating result reached respectively EUR 3.1 billion and EUR 75.8 million in FY 2016.
- Belron (94.85% owned) makes a difference by solving people’s problems with real care. It is the worldwide leader in vehicle glass repair and replacement, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Sales and adjusted operating result reached respectively EUR 3.3 billion and EUR 190.7 million in FY 2016.
- Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 102 countries. Sales and operating result reached respectively EUR 145.2 million and EUR 34.0 million on a stand-alone basis in FY 2016.
Axel Miller, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39
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