There are several reasons for our interest in these businesses
Columbus, Ohio (Vocus) September 25, 2009
Today, Belron® US, operators of Safelite AutoGlass®, the nation's leading vehicle glass repair and replacement company, entered into an agreement to acquire all of the vehicle glass repair and replacement assets of IGD Industries. These businesses include Auto Glass Center, Inc.; Auto Glass Center of Kansas, Inc.; Arnie's Auto Glass Center; Glass Installations, LLC (DBA Midwest Auto Glass Center); JC's Glass LLC; and Globe of Iowa LLC (DBA Nationwide Auto Glass) and Alliance Claims Solutions, Inc.
"There are several reasons for our interest in these businesses," said Tom Feeney, Belron® US President and Chief Executive Officer. "They have a distinguished history and employ talented people. Geographically they are a good fit with our existing business - with a strong presence primarily in the Midwest and Western regions of the United States. They also have a strong reputation for customer service, which fits with our philosophy around customer delight. In addition, their effective third party administration business serves similar customer segments as we do. All of this aligns well with our strategic direction."
The transaction is expected to close on September 30.
Until closing, Belron® US and IGD Industries' vehicle glass repair and replacement businesses will continue to operate as separate and independent entities and as competitors.
After closing, the Belron® US team will work closely with the leadership team of the acquired IGD businesses to create plans to integrate the businesses. Until then, it is business as usual - employee reporting relationships and work will continue as it is today.
"We reached this decision based on Belron® US's growing business model and strategy," said Steve Dummermuth, IGD Industries CEO. "The transaction will provide additional financial investments, a strong operating model, robust advertising and more opportunities for the employees of Auto Glass Center and Alliance Claims Solutions."
About Belron® US
Belron® US, a subsidiary of Belron®, is a multi-faceted vehicle glass and claims management service organization based in Columbus, Ohio. The company, which has been in business since 1947, is comprised of four major business operations that include vehicle glass repair and replacement services, operating under the trade names Safelite AutoGlass®, Auto Glass Specialists®, Cindy Rowe Auto Glass™, Diamond Triumph Glass®, Elite Auto Glass™; Safelite® Solutions which offers fleet and insurance claims management services; Service AutoGlass®, a wholesale and distribution operation; and Safelite® Glass Corp., a manufacturing and distribution business unit. The company employs more than 8,500 people throughout the United States.
About IGD Industries
IGD Industries (formerly Iowa Glass) is based in Cedar Rapids, Iowa and has been in business since 1946. The company employs more than 900 employees in eight different business units and more than 450 employees in its vehicle glass repair and replacement business. The vehicle glass repair and replacement business includes Auto Glass Center and Alliance Claims Solutions.