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Auto Windscreens sold again
Date: 18 December 2009 | Author: Tristan Young
Replacement vehicle glass firm Auto Windscreens has been sold to German firm Moguntia Invest for an undisclosed sum a year after it was bought by German private equity firm Arques Industries.
Moguntia is controlled and run by Christian Daumann.
Daumann was the executive responsible for the original purchase by Arques, and will take an active interest in the company in close co-operation with its managing director Peter Fox, who will stay on board as part of the new structure.
The company was acquired by Arques from Aviva in December 2008.
"Following the acquisition, Auto Windscreens was established as an independent brand, strict cost management was introduced and a new senior management team, which includes Nigel Davies as sales and marketing director, was appointed earlier this year. All existing management structures within the company will remain," said an Auto Windscreens spokesman.
Fox added: "Auto Windscreens' strategy and direction will continue. It is one which Christian and I believe in and have been fully involved since its inception at the beginning of the year. The company has come a long way in 12 months. It is now financially robust and we have developed a strong platform on which to build the business further within the fleet sector."
Earlier this year Arques also sold BSM following a year's ownership.
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