Safelite, Belron’s subsidiary in the US, acquires TruRoad Holdings, Inc.
Safelite® Group, Belron’s subsidiary in the US, has reached an agreement to acquire the assets of TruRoad Holdings, Inc. (TruRoad) a vehicle glass repair and replacement (VGRR), ADAS* recalibration and claims-management player.
TruRoad owns JN Phillips Auto Glass, TechnaGlass, Harmon AutoGlass and Windscreen Centers. It manages a network of 2,000 company-owned, franchised and contracted providers offering both in-store and at-customer service via a fleet of mobile vans.
TruRoad also owns StrategicClaim, a third-party administration business which provides advanced claim software solutions and incident management services for many of the leading auto and property insurance companies in the US.
TruRoad serves customers across 17 US states, including consumers, commercial clients (fleets) and insurance carriers. Its annualized revenues amount to about USD 116 million.
For further details, please refer to Safelite’s press release which is available in attachment.
* Advanced Driver Assistance Systems
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 the following activities:
- 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 21% and 1.2 million vehicles on the road. Sales and adjusted operating result reached respectively EUR 3.4 billion and EUR 113.0 million in 2018.
- Belron (54.10% owned) has a clear purpose: “making a difference by solving people’s problems with real care”. It is the worldwide leader in vehicle glass repair and replacement and operates in 35 countries, through wholly owned businesses and franchises, with market leading brands – including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers. It has also expanded its services into the automotive damage and home damage repair and replacement markets. Sales and adjusted operating result reached respectively EUR 3.8 billion and EUR 225.7 million in FY 2018.
- 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 more than 115 countries. Sales and operating result reached respectively EUR 174.1 million and EUR 28.6 million in FY 2018.
- D’Ieteren Immo (100%) groups together the Belgian real estate interests of D’Ieteren Group. It owns and manages approximately 30 properties which generated EUR 18.7 million net rental income in FY 2018. It also pursues investment projects and carries out studies into possible site renovations.
Francis Deprez, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Investor Relations - Tel: + 32 (0)2 536.54.39