Guardian Europe S.à r.l. (Guardian) has finalized the sale of its Guardian Automotive aftermarket glass fabrication and distribution business to PARTER Capital Group AG (PCG). The transaction includes automotive glass fabrication operations in Llodio and Valencia, Spain, and a warehouse in Karlsruhe, Germany, according to the company.
“Guardian is confident that PARTER Capital Group is the right company at the right time for Guardian Automotive and that this is in the best interest of the employees, customers and suppliers,” said Guus Boekhoudt, vice president of Guardian Glass Europe and managing director of Guardian Europe S.à r.l. “We are grateful to the Guardian Automotive team for their continued dedication to working safely and creating value for their customers.”
Guardian Automotive says it offers a full range of premium quality automotive replacement glass of OEM-like quality and meets all the required EU standards. PARTER Capital Group AG says it is committed to the future of the business and expressed enthusiasm about the opportunity to work with the employees.
“This represents an important milestone in our strategy of investing in key assets for the automotive sector and confirms our enormous confidence in this industry and in Guardian Automotive’s operations, staff and employees,” says Dr. Rüdiger Terhorst, Managing Partner of PCG.
The purchase does not include Guardian´s float glass business in Llodio, Spain, nor does it affect SRG Global, Guardian’s automotive trim manufacturing business.
The agreement was first announced in February 2020. Terms of the transaction were not disclosed.
PARTER Capital Group AG is a Switzerland-based private equity group, while Guardian Glass is a major business unit of Guardian Industries, one of the world’s largest manufacturers of float, coated and fabricated glass products.