Belron Explores Major IPO in Europe with Euronext Amsterdam Listing

Belron, the world's largest vehicle glass repair company, is seeking investment banks to assist with a potential initial public offering (IPO) on Euronext Amsterdam. This listing could value the company at over €30 billion, making it one of the largest IPOs in Europe in recent years. The timeline for the IPO could extend into 2027, as Belron evaluates its options.

In the first half of 2026, Belron reported sales of €3.57 billion, reflecting a 4.7% increase from the same period in the previous year. The company's pretax profit reached €526.1 million, with significant growth driven by its operations in North America. Belron operates in 42 countries under various brand names, including Carglass, Autoglass, and Safelite, employing between 30,000 and 32,000 people.

D’Ieteren Group, the Belgian holding company that owns 50.3% of Belron, is considering strategic options for minority interests, including a stock market listing. The private equity firm Clayton, Dubilier & Rice (CD&R) holds a 20.4% stake in the company. A previous valuation estimated Belron at around €32 billion, supporting the higher estimates currently being discussed.

The choice of Amsterdam for the listing comes amid a leadership transition at D’Ieteren Group, with Francis Deprez set to step down as CEO by the end of 2026, handing over to Eric Machiels. A successful IPO would allow D’Ieteren to realize value from an asset it has owned since 1999 while retaining majority control. The IPO process is still in its early stages, with banks being approached but no formal timeline established yet.

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Source: KLEA News