Cary Group expands in Portugal with Newcar acquisition
Cary Group's subsidiary ExpressGlass has acquired Newcar, a Portuguese company specializing in vehicle glass repair and replacement. The deal significantly increases ExpressGlass's workshop network and strengthens its market position in Portugal.
ExpressGlass, a company specializing in vehicle glass repair and replacement and part of the Nordic Cary Group, has acquired the Portuguese firm Newcar. Newcar operates a network of 32 workshops across Portugal. This acquisition will expand ExpressGlass's total workshop count from 88 to 120, thereby reinforcing its standing in the Portuguese market.
Joana Marques, CEO of ExpressGlass, stated that the acquisition of Newcar is a key step in strengthening the company's presence and network in Portugal. She also noted the high standard of service provided by Newcar's technicians and the perceived cultural fit between the two companies.
Newcar was founded in 1998 by Luis Oliveira and Nuno Mendonça. The current Managing Director, Antonio Nunes, will continue in his role to support ExpressGlass during the transition. Cary Group's acquisition strategy aims to enter new geographic markets and bolster its presence in existing ones through platform and add-on acquisitions.
The European vehicle glass repair and replacement market is fragmented. Cary Group has pursued several acquisitions in recent years, increasing revenue and establishing the company in new territories. These moves contribute to market consolidation and enhance the company's reach and local scale.