Cary Group Acquires MPS Bilskade to Expand Norwegian Operations
Cary Group has signed an agreement to acquire 100% of Norwegian company MPS Bilskade AS, expanding its presence and services in the Norwegian vehicle repair market.
Cary Group has announced the acquisition of MPS Bilskade AS, a Norwegian company specializing in vehicle damage repair. The deal, expected to close by the end of Q4 2021, will add 63 workshops across Norway to Cary Group's network.
MPS Bilskade handles both minor and major vehicle damage repairs and has established relationships with insurance companies. The company reported NOK 160 million in revenue for the 12 months ending October 31, 2021, and employs approximately 55 people. The acquisition is expected to improve profitability in Norway for Cary Group.
Anders Jensen, CEO of Cary Group, stated that MPS Bilskade complements the earlier acquisition of Quick Car Fix, which focuses on SMART repair and car care. "This acquisition will enable us to offer additional services, with more workshops for carrying out both minor and major auto body repair," Jensen said.
This move is part of Cary Group's broader expansion strategy. The company has signed agreements to acquire 18 companies so far in 2021, increasing its annual revenue by nearly SEK 900 million through platform acquisitions in new markets and add-on acquisitions in existing ones.