Latham & Watkins advised Hellman & Friedman on its investment in Belron, alongside funds and accounts managed by BlackRock Private Equity Partners and GIC. The transaction gives Belron an enterprise value of €21 billion.
Hellman & Friedman will become the third largest shareholder of Belron after existing shareholders D’Ieteren and CD&R, with a c.9% fully diluted shareholding.
Belron is the worldwide leader in vehicle glass repair and replacement and operates in 40 countries, through wholly owned businesses and franchises, with market leading brands – including Carglass®, Safelite® and Autoglass®.
The Latham team was led by London corporate partners David Walker and Huw Thomas, with Boston corporate partner Neal Reenan, and associates Alex McCarney and Antonina Semyachkova. Advice on financial regulatory matters was provided by London partner Stuart Davis and associate Anne Mainwaring; on antitrust matters by Brussels partner Sven Völcker, Hamburg counsel Jana Damman, Washington, D.C. partner Alan Devlin, and associate Doug Tifft; on data and technology matters by London partners Gail Crawford and Deborah Kirk, with associates Jagveen Tyndall and Claudia Sousa; on benefits matters by London partner Catherine Drinnan and associate Shaun Thompson; on disputes matters by London partner Charles Claypoole and counsel Daniel Smith; and on ESG matters by London partner Paul Davies and counsel Michael Green.