PriestleySoundy is advising Gary Lubner (CEO) and his senior management team in connection with the sale of a minority stake in Belron.
The transaction will see lead investor Hellman & Friedman, funds and accounts managed by BlackRock Private Equity Partners and GIC acquire a combined stake of up to 13% in Belron, giving Belron an enterprise value of €21 billion.
Clayton, Dubilier & Rice (“CD&R”) retain a fully diluted shareholding (including all management shares) of approximately 24% in Belron. D’Ieteren retains its current holding of 50.01%.
Belron is the worldwide leader in vehicle glass repair and replacement and operates in 40 countries with unrivalled brands – including Carglass®, Safelite® and Autoglass®.
Sarah and Mark previously advised Gary Lubner and his senior management team In February 2018, when CD&R acquired a 40% ownership interest in Belron.
Hellman & Friedman is a preeminent global private equity firm with over $80 billion in assets under management and committed capital. BlackRock is one of the world’s preeminent asset management firms and a premier provider of investment management. Established in 1981, GIC is Singapore’s sovereign wealth fund and a global long-term investor in more than 40 countries.
D’Ieteren are being advised by Cleary Gottlieb Steen & Hamilton, CD&R are being advised by Debevoise & Plimpton and Hellman & Friedman are being advised by Latham & Watkins.
19 July 2021