- Cary Group services Sweden, Denmark, Norway, the UK, Spain, Portugal, Germany, Luxembourg and Austria
- Cary Group deployed an accelerated M&A strategy to expand outside Sweden between 2018 and 2021
- Cary Group has been delisted from Nasdaq Stockholm as part of the deal
CVC and Nordic Capital announced on Wednesday that they have completed the acquisition of Cary Group. Cary group, formerly Ryds Bilglas, is a European vehicle glass repair and replacement provider. The company has customers in Sweden, Denmark, Norway, the UK, Spain, Portugal, Germany, Luxembourg and Austria. CVC has invested out of CVC Fund VIII.
Between 2018 and 2021 Stockholm-headquartered Cary Group deployed an accelerated M&A strategy to expand outside Sweden. CVC and Nordic see opportunity across the fragmented European market for Cary Group to accelerate its expansion further. The deal follows a public offer to the shareholders of Cary Group, unanimously recommended by the company’s board of directors. The last day of trading in Cary Group’s shares on Nasdaq Stockholm was 18 October.
Luxembourg-based CVC is a global alternative investment manager that invests across private equity, secondaries and credit. Its private equity platform manages €85 billion of assets and employs four strategies: Europe/Americas, Asia, strategic opportunities and growth.
Nordic Capital is a private equity firm headquartered in Stockholm. It invests across the healthcare, technology and financial services sectors. Since its inception in 1989 the firm has invested close to €19 billion across over 120 investments.