PriestleySoundy advises Carlos Brito on his appointment as the Chief Executive Officer of Belron

PriestleySoundy is advising Carlos Brito on his appointment as the new Chief Executive Officer of Belron, following an extremely successful two decades under Gary Lubner.  Brito will join the company in January and take over as CEO in March 2023, following a handover period.

Brito is one of the world’s top business leaders.  He has vast experience, including running AB InBev, a global business of over 164,000 people, and an outstanding track record of creating value for shareholders and developing leaders.

Belron is the world’s leading vehicle glass repair, replacement and recalibration group.  Its key brands include Carglass®, Safelite AutoGlass® and Autoglass®.  It operates in 38 countries across 6 continents and is home to around 30,000 employees who served over 16 million customers in 2021.

During Gary Lubner’s 22 years as CEO, Belron sales have grown consistently from €822m in 2000 to more than €4.6bn in 2021, through geographic expansion into new territories, growing market share and value accretive acquisitions.  The business was most recently valued at €21bn in a transaction in 2021.

Sarah and Mark previously advised Gary Lubner and his senior management team in 2018, when Clayton, Dubilier & Rice acquired a 40% ownership interest in Belron, and again in 2021, when Hellman & Friedman, funds and accounts managed by BlackRock Private Equity Partners and GIC acquired a combined stake of 13% in Belron.

16 November 2022