CVC and Nordic Capital completed the acquisition of Cary Group from Ares Management for $585m.

Private equity firms CVC and Nordic Capital completed the acquisition of Cary Group, a vehicle glass repair and replacement provider, from Ares Management, an American global alternative investment manager, for $585m. “We have followed the company and its progress in the industry for some time and have great respect for the management team and their strategy, including the geographical expansion that Cary Group has undertaken in recent years. Further, we see potential for the Company to accelerate its active role in the industry’s consolidation. Together with Nordic Capital, we can provide the right funding conditions, business know-how, and geographical reach required for Cary Group to strengthen its role as a challenger on the European market. We are convinced that a private setting currently provides the most appropriate platform for this journey and are looking forward to cooperating closely with Cary Group and Nordic Capital to help the Company achieve its full potential," Gustaf Martin-Löf, CVC Partner. On September 7, 2022, Nordic Capital and CVC sweeten offer Cary Group to $6.5 per share.