Belron, the global vehicle glass repair and replacement company known for brands like Autoglass in the UK, Carglass in Europe, and Safelite in the US, is reportedly preparing for a stock market flotation in Amsterdam. This potential IPO could value the company at more than €30 billion, with some reports suggesting a valuation between €30 billion and €40 billion. This would position it as one of the largest European stock market listings in recent memory, potentially revitalizing a sluggish IPO market on the continent.
D'Ieteren Group, the Belgian automotive group and majority owner of Belron with a 50.3% stake, confirmed that Belron's shareholders are exploring strategic options for minority stakes, explicitly including a possible stock-market listing. Other significant shareholders include Clayton Dubilier & Rice (20.4%), Hellman & Friedman, Singapore sovereign wealth fund GIC, and BlackRock (18.2%), with management, employees, and the founding family holding the remaining 11%. Despite exploring an IPO, D'Ieteren intends to remain a long-term shareholder.
Belron has demonstrated strong financial performance, underpinning these high valuation figures. In the first half of the year, its adjusted pre-tax profit jumped 28.6% to €308.2 million, with organic sales growing 7.3% and an adjusted operating margin increasing from 21.4% to 23.0%. For the full year 2025, operating profits reportedly rose 10% to €1.26 billion. This strong performance comes as D'Ieteren Group itself saw its adjusted profit before tax attributable to the group increase by 6.6% in the first half, though its automotive division experienced a significant profit plunge.
