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Our Corporate Finance team with colleagues from the CP Transaction Tax and Private Client teams have advised the shareholders on the sale of Charles Pugh Holdings to Cary Group, the Swedish listed company.
Based in the Midlands, Charles Pugh is one of the UK’s market leaders in vehicle glass repair and replacement, along with related wholesale business.
Founded in 1917, Charles Pugh Holdings has its head office and main wholesale facility in the Midlands. The company has always been family owned with currently around 500 employees. It has 28 workshops for vehicle glass repair and replacement, around 190 mobile units and a wholesale business where they sell vehicle glass to the majority of the UK market.
Cary Group is a European market leader specialising in sustainable solutions for repair and replacement of vehicle glass, with a complementary offering in auto body repair. The acquisition bolsters Cary Group’s position in the United Kingdom.
Ed and Dave Pugh of Charles Pugh Holdings said:
“We have an excellent long-standing relationship with Cooper Parry and the various teams worked together seamlessly from start to finish to deliver a smooth transaction with a sophisticated international buyer. The Corporate Finance team led by Ben drove an efficient process and walked us through every stage of the deal, meaning we felt supported throughout. The team ensured that the transaction remained confidential, reducing any disruption to business during the 6-month process.”
Ben Rookes, Corporate Finance Partner said:
“CP has worked with the Pugh family for over 20 years and the business has grown significantly over that period. We were delighted to be able to support the shareholders in securing a great deal and a good home for Charles Pugh in Cary Group.”
Cooper Parry’s Corporate Finance team has been shortlisted in three of the East Midlands Dealmakers Awards 2022 categories – Corporate Finance Advisory Team; Emerging Dealmaker and Deal of the Year (above £10M) for which the team is nominated for three different deals