South African windshield replacement firm Glasfit is thought to be one of several parties in talks to acquire Auto Windscreens, the UK repair company from insurer Aviva.
The privately-owned South Afr…
South African windshield replacement firm Glasfit is thought to be one of several parties in talks to acquire Auto Windscreens, the UK repair company from insurer Aviva. The privately-owned South African company“s main competition for Auto Windscreens, estimated to be worth about GBP 50 million, comes from financial firms. RJD Partners, the private equity firm, is said to be among the institutions interested. Glasfit is a leading player in southern Africa, with 120 repair centres in South Africa, Namibia and Botswana. Auto Windscreens is one of two main providers in Britain, the other being Autoglass. In late August 2008, a source close to Autoglass denied it was involved in bidding for its rival, suggesting there might be competition issues if the two organisations merged. Auto Windscreens is one of several automotive-related businesses being sold by Aviva, the insurance giant behind Norwich Union. Also up for sale are BSM, the motoring school, and HPI, a vehicle database. Aviva has decided that the motoring assets are secondary to its main insurance business. It has hired NM Rothschild to conduct a sale, though this is unlikely to be concluded for several weeks.
