Press Releases
Belron US Finalizes Acquisition of Diamond Glass
COLUMBUS, Ohio - July 1, 2008 - Belron US, the nation's leading vehicle glass repair and replacement company has closed its acquisition of substantially all of the assets of Diamond Glass. The closing was effective June 30.
"The transaction marks the beginning of a transition of the Diamond Glass operating model to the Belron US operating model," said Tom Feeney, Belron US president and CEO. "The effort will be led by the Belron US senior management team in Columbus, Ohio."
The acquisition is the continuation of Belron US?s mission to profitably grow in the U.S. and to become the customer's "natural choice" for vehicle glass repair and replacement services. Growth will come from expanding the company's existing sales and profit base, as well as through additional strategic, targeted acquisitions.
The acquisition was announced on June 20 and the deal closed effective June 30.
A team of Belron US associates, led by John Sadler, Belron US vice president of warehouse operations, will work closely with the Diamond Glass management team to formulate integration plans which are expected to be implemented over the next 30 to 60 days.
"For now, we want our associates to remain focused on providing the high levels of service that is the cornerstone of any successful business," said Feeney. "Until we have time to formally announce and implement transition plans, our work forces will continue to function in the same professional, efficient, and customer-focused manner that they always have."
Founded in 1923 with one storefront and one truck, Diamond Glass had grown from its original service center in Scranton, Pa., to a network of 217 service centers and approximately 900 mobile installation vehicles in 42 states. Diamond Glass had more than 1,600 employees as of March 15.
About Belron US
Belron US, a subsidiary of Belron SA, is a multi-faceted vehicle glass and claims management service organization based in Columbus, Ohio. The company is composed of three major business operations that include vehicle glass fulfillment services, operating under the trade names Auto Glass Specialists(R), Elite Auto GlassTM and Safelite AutoGlass(R); windshield manufacturing; and Safelite Solutions(R) which offers fleet and insurance claims management services. The company employs more than 8,600 people throughout the United States.
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