Clairus Group Makes Two Key Strategic Moves in the US Market Early in 2019
LAVAL, Quebec--(BUSINESS WIRE)--Jan 23, 2019--Clairus Group, a fast-growing, vertically-integrated leader in automotive glass distribution, replacement and claims management, has made a key move to strengthen its position in the U.S. market by establishing a strategic partnership with LRST, a US-based management company providing strategic management and M&A services to Clairus Group on an exclusive basis. Founded by automotive glass industry veterans Jim Latch, Jerry Ray and Marc Talbert, LRST will work exclusively with the Clairus Group to identify and close on opportunities in multiple business segments, including automotive glass distribution, replacement and claims management. The partnership solidifies Clairus Group’s presence and credibility in the United States and confirms the company’s leadership position in North America. Both companies share the desire to identify and execute on growth opportunities.
“LRST has certainly proven their track record over the years, and their reputation is a tremendous asset for our group,” said Marc Desmarais, CEO and President of Clairus. “Their knowledge and understanding of the U.S. market complements our M&A team and provides the added market knowledge to expand our operations more rapidly and accelerate our growth strategy.”
“Clairus Group’s trusted auto glass network and renowned claims management platform clearly make the company a leading force in the market place,” commented by the three, Managing and Founding Partners at LRST. “Our partnership allows us to engage with and execute on opportunities with existing enterprises wherever they are located, bringing cutting-edge claims technology that is greatly needed in the U.S. market.”
The newly-formed partnership already has several targets in the pipeline and discussions are ongoing. Acquisition announcements will be made throughout 2019.
A partnership already bearing fruit
In early 2019, the expanded Clairus Group completed the acquisition of a majority stake in Ohio-based Advanced Auto Glass, a leading auto glass repair and replacement business, from Ms. Christina Pattakos, who acquired the business from her father in the early 2000’s and who remains a key partner and shareholder of Advanced.
While maintaining the existing brand, Clairus will integrate Advanced Auto Glass into Clairus Group, introduce ADAS vehicle calibration services and further invest in the operations to enhance market performance. Advanced has a wide footprint with an operational network comprised of 9 in-bay locations, a fleet of 30 mobile service units and a distribution warehouse serving northeast Ohio, western Pennsylvania, and northern West Virginia. The acquisition of Advanced Auto Glass provides Clairus with a foothold and entry into the Midwest and Great Lakes markets where demand for its products is strong.
“Advanced adds complementary expertise to our platform and strengthens our ability to serve U.S. clients, while providing Advanced with access to Clairus’ existing distribution network. Further, the team has a wealth of knowledge in a network that we have identified as having great growth potential,” said Desmarais. “With Advanced, Clairus is exceptionally well-positioned to establish a foundation for a solid operational cluster in the U.S. Midwest/Great Lakes area.”
Christina Pattakos, President and CEO of Advanced Auto Glass, added: “We were interested in expanding our footprint, and given the way the industry is changing, we wanted to make advances in technology and update how we run our day-to-day operations. The Clairus Group was the perfect fit for our company as they bring so many opportunities to the table for our customers and employees, especially in the area of technology.”
About Clairus Group
The Clairus Group is a leading technology-enabled provider of replacement, repair and recalibration services for automotive glass and related advanced driver assistance systems (ADAS), serving vehicle owners, fleets, and insurance carriers. The Company is a market leader in Canada, operating 21 distribution centres and serving its clientele through more than 220 in-bay service centres and 300 mobile units. The company also has a rapidly growing U.S. presence. More than ever, customers are benefiting from the Company’s automotive glass expertise and its cutting edge on-demand claims technology.
About LRST, LLC
LRST’s founders and managing partners have extensive business leadership and entrepreneurial backgrounds with industry-leading companies, including specific expertise in the auto glass industry, as well as in the retail, distribution and services sectors. The firm’s primary focus is on identifying and implementing business acquisition and growth opportunities with existing or start-up enterprises. For more details, visit http://lrstllc.com.
About Advanced Auto Glass
Founded in 1983, Advanced Auto Glass is currently operated by the founder’s daughter, Ms. Christina Pattakos, CEO, and her husband, Mr. John Pattakos. Ms. Pattakos acquired the business from her father in the early 2000’s and remains a key shareholder of Advanced.
Advanced provides a wide range of services across eastern Ohio, northern West Virginia, and western Pennsylvania. In addition to its core automotive glass focus, the company provides residential and commercial glazing services, including window replacement, storm doors and windows, screen doors, shower doors and much more. Advanced has 9 in-bay fulfillment locations, 30 mobile units and a 17,000 square foot warehouse.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005752/en/
CONTACT: Marc Desmarais
CEO and President
KEYWORD: UNITED STATES NORTH AMERICA CANADA OHIO
INDUSTRY KEYWORD: AUTOMOTIVE AFTERMARKET PROFESSIONAL SERVICES FINANCE INSURANCE GENERAL AUTOMOTIVE
SOURCE: Clairus Group
Copyright Business Wire 2019.
PUB: 01/23/2019 02:49 PM/DISC: 01/23/2019 02:48 PM