24 October 2022

PHE has entered into exclusive negotiations with MACIF for the disposal of its specialized glass repair activity Mondial Pare-Brise. The transaction is subject to an information and consultation process with the works councils from both parties, as well as customary merger control approvals.

The disposal of PHE’s specialized glass repair activities was imposed by the European Commission following the acquisition of PHE by D’Ieteren Group.

The indicative acquisition price corresponds to an equity consideration of €102m.

The proceeds from the disposal would strengthen PHE’s strategic development through organic and external growth.

The closing of the contemplated transaction is expected in early 2023.

In the context of this transaction, Sycomore Corporate Finance acted as exclusive financial advisor to Parts Holding Europe and D’Ieteren Group. The transaction team comprised François Vigne, Laurent Bricco, Simon Crouzevialle, Etienne Baudoin and Malo Grosso.