Fleet News

'Business as usual' for Auto Windscreens

Auto Windscreens has declared it is business as usual after it was sold in a multi-million pound deal to a German company.

It is the first UK acquisition of new owner Arques Industries and the sale should be completed by the end of December, subject to regulatory approvals, with the existing senior leadership team continuing to lead the business.

“My message to all customers and colleagues is that it is very much business as usual,” said Abu-Haris Shafi, managing director of Auto Windscreens.

“We have a business model that enables us to maximise customer service and deliver competitive commercial propositions.”

Auto Windscreens was purchased by Aviva in 2005 as part of its acquisition of RAC in an overall deal worth £1.1bn.

The gross assets of Auto Windscreens totalled £40m as of September 30, with an annual turnover of £100m.

The company employs nearly 1,800 people in its UK-wide operation, which encompasses 98 fitting centres and more than 600 mobile fitting units, as well as a windscreen manufacturing division and a contact centre.

Igal Mayer, Aviva’s UK general insurance chief executive, said: “This sale is part of our ongoing programme to transform our UK general insurance business through an increased focus on our core insurance and vehicle breakdown activities.”

Arques specialises in the restructuring and development of companies and has grown its portfolio substantially over the last few years.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee