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Auto Windscreens sold

Auto Windscreens has been sold by Arques Industries to invetsment company, Moguntia.

The sale of the company is the second change of hands in just over a year.

Moguntia is controlled by Christian Daumann who was the Arques executive responsible for the purchase in December 2008. Arques bought Auto Windscreens from Aviva for a "symbolic purchase price".

Arques specialises in the restructuring and development of companies.

 

Following the acquisition, Auto Windscreens was established as an independent brand, strict cost management was introduced and a new senior management team was appointed earlier this year.

Daumann will now run the company along with managing director Peter Fox, who will continue in his role.

"The company has come a long way in 12 months," said Fox following the sale.

"It is now financially robust and we have developed a strong platform on which to build the business further."

All existing management structures within the company will remain.

Auto Windscreens employs 1,600 people in 94-fitting centres network.

In April it won the Lombard Vehicle Leasing contract to become its automotive glazing service provider.

 

The two-year supplier deal means Auto Windscreens now provides a national automotive glazing service to Lombard Vehicle Leasing’s 116,000-strong van and car fleet.

It also operates a fleet of more than 600 mobile units, and has a UK-based contact centre and a factory which has the capacity to manufacturer 250,000 windscreens annually.

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