NEWS: Belron US to Purchase IGD's Auto Glass Repair and Replacement
AssetsIncludes Auto Glass Centers and Alliance Claims Solutions
September 23, 2009
Belron US has announced that it will purchase all of IGD Industries
auto glass repair and replacement assets. These include all of IGD's
retail businesses (a total of 80), including Auto Glass Center Inc.,
Auto Glass Center of Kansas Inc., Arnies Auto Glass Center,
Glass Installations LLC (also known as Midwest Auto Glass Center),
JCs Glass LLC , Globe of Iowa LLC, and its auto glass claims
division, Alliance Claims Solutions Inc.
The sale is expected to close on September 30. Until this date,
the companies will continue to operate separately. Afterwards, Belron
officials say they will work with the newly acquired businesses
to integrate them into the Columbus, Ohio-based company.
There are several reasons for our interest in these businesses,
says Belron US president and chief executive officer Tom Feeney.
They have a distinguished history and employ talented people.
Geographically they are a good fit with our existing businesswith
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.
IGD chief executive officer Steve Dummermuth adds, We
reached this decision based on Belron® USs growing business
model and strategy. 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
Alliance Claims Solutions was founded in 1989 and provides 24/7
glass claims processing services for insurers. It is based in Cedar
Rapids, Iowa, where parent company IGD Industries is based.
IGD, founded in 1946 and formerly known as Iowa Glass, has more
than 450 employees on the auto glass side and more than 900 total.
According to a fact sheet provided by Belron US, this acquisition
will bring its entire number of retail shops throughout the United
States to 476.
The sale does not include IGD's Precision Replacement Parts.
Rumors of a sale have been circulating for several months. In September,
glassBYTEs.com/AGRR magazine had contacted both companies
regarding the possible sale. Calls to Belron US were not returned,
and Iowa Glass president Steve Dummermuth Sr. declined to comment
HERE for related story).
"I don't comment on rumors," Dummermuth said in an interview
in early September.
HERE for full text of press release.
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