July 14, 2021
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