Septentrion Finance has advised the shareholders of 123 Pare-Brise on the merger of their group with the Swedish company Cary Group
09/01/2025
Cary Group, a European group based in Sweden, has acquired a majority stake in 123 Pare-Brise, the fourth-largest automotive glass repair company in France.
Impressed by the rapid growth of the northern France-based company founded just four years ago, this acquisition marks Cary Group’s entry into the French market and further strengthens its European footprint. Cary Group is backed by CVC Capital Partners and Nordic Capital, who jointly hold 92% of its share capital.
Headquartered in Marquette-lez-Lille and Bourgoin-Jallieu, 123 Pare-Brise operates 129 branches across France, generates annual revenue of just over €100 million, and employs 900 people.
The group, which operates a fully company-owned network, has experienced annual growth of approximately 30% since its inception. With plans to open 40 new locations per year, the company aims to reach 250 branches within the next three years.
Founding partners Albéric Bienvenu, Norbert Sibert, and Ludovic Vasken will continue to lead 123 Pare-Brise alongside the existing teams.
Although the founders were not actively seeking to sell the group, they were approached in June by Cary Group, who convinced them of the strategic opportunity of joining forces.
Septentrion Finance, a long-standing advisor to the founding team, supported them throughout the transaction with Cary Group.
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Sell-side advisors:
- M&A: Septentrion Finance (Thibaut Bouchoir, Pierre-Henry Martin, Hugo Carlier, Scott Durand-Smet)
- Legal: Pledge Avocats (Edouard Augris, Idaline Le Granvalet, Clara Dubrulle)
Buy-side advisors:
- M&A: Sycomore CF (François Vigne, Laurent Bricco, Erwan Robertet, Etienne Baudoin, Paul de Singly, Jean-Marie Ferretti)
- Legal: White & Case (Guillaume Vitrich, Charles Assous)
- Financial due diligences: PwC TS (Philip Dykstra, Clémence Warchol)
- Legal due diligences: PwC Avocats (Guillaume Glon, Jeanne Castelle)
- Strategic due diligences: EY Parthenon (Gianluigi Indino, Julien Drevon)