Says IGD Asset Purchase Will Complement Belron US
September 23, 2009
Belron US president and chief executive officer told glassBYTEs.com/AGRR
magazine that the purchase of IGD Industries' auto glass repair
and replacement businesses will add several complementary businesses
to the Columbus, Ohio-based company. The sale is scheduled to close
on October 1. (CLICK
HERE for related story.)
"We've always looked at the industry and have tried to identify
companies that are complementary to us and a strong brand, and that
have the same kind of focus on serving people and customers very
well," he said during an exclusive interview with glassBYTEs.com/AGRR
One of these complementary assets is Alliance Claims Inc., IGD's
auto glass claims division, which Feeney says is very similar to
the company's existing Safelite Solutions business.
"They serve the industry just like us and that's attractive
to us," he said. "They understand our model and they've
been very successful in the first-notice-of-loss business as well
as providing claims solutions to the insurance industry as well."
For the retail locations, Feeney said the company will use a similar
co-branding approach as it has with other acquisitions for most
"There will be markets where Auto Glass Center will be defined
as the power brand and will sit in front of the Safelite brand,"
Feeney also noted that there's not a lot of overlap between the
"We operate in very different markets," he said. He also
said no possible store closures have been identified at this point.
Feeney also addressed possible industry criticism that Belron US
could be building a monopoly. The purchase of IGD adds 80 retail
locations to the company's current 396.
"We're a far cry from a monopoly and those words don't even
enter our mouths," he said. "We work every day to do business
for the customer we serve, and we'll continue to grow our business
organically and through strategic acquisitions like this one."
How do you think the impending purchase of IGD's retail locations
and claims administration division will impact the industry?
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