Fleet News

EurotaxGlass’s sold for £480 million

AUTOMOTIVE data firm EurotaxGlass’s has been taken over by buyout specialist Candover for €480 million.

EurotaxGlass’s business, which is spread across 28 countries throughout Europe, will continue to be led by the existing management team.

The firm’s chief executive officer Kevin Gaskell said: ‘This agreement opens up an exciting new chapter for EurotaxGlass’s, allowing us to continue our investment in product development and explore opportunities to build on our international presence.’

Charlie Green, managing director of Candover, said: ‘EurotaxGlass’s fits Candover’s investment criteria well.

‘We seek to back strong management teams operating in sectors with attractive market dynamics and high barriers to entry. EurotaxGlass’s occupies a unique position as the only provider of comprehensive automotive intelligence on a pan-European basis, and has a strong management team with an excellent track record of operational improvement.

‘We are very excited to be backing Kevin and his team and look forward to working closely with them.’

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