CARe Schadeservice

CARe Schadeservice from Athlon Holding to CARe’s management and NPM Capital

We represented the management team of CARe Schadeservice (comprising CARe Schadeservice in the Netherlands and CARe Carosserie in Belgium) in the company’s successful buyout from international car lease company Athlon Holding.

Founded in 1989, CARe is a pioneer in automotive repair and the market leader in its segment. Its customers are car lease companies, fleet owners and insurance companies, which direct their own clients to CARe for repairs. The company has 69 outlets across the Netherlands and Belgium and employs more than 1400 people. After Athlon Holding (now part of De Lage Landen) decided to divest CARe Schadeservice, CARe’s management team approached us with its interest in a buyout.

Our role

Working closely with CARe’s CEO, Johan van Klinken, and CFO, Ton van Dalen, we defined a solid buy-build strategy and approached potential investors to finance the MBO.

NPM Capital (a subsidiary of SHV Holding) was impressed by the CARe team and the business plan, and committed to serving as the management team’s financial sponsor.

Meanwhile, Athlon had decided to set up an auction and approach potential financial and strategic buyers itself.

Despite the heavy competition, we and NPM Capital succeeded in our mission to achieve a successful MBO for the CARe team and offer Johan and Ton the opportunity to further expand the business internationally and secure its continuity. As we predicted, NPM Capital proved to be an excellent fit for CARe’s management.

What happened next?

Thanks to the buy-build strategy we designed and NPM Capital’s support, CARe Schadeservice more than doubled its EBITDA and realized its dream of international expansion. Three years later, the company sold to AAC Capital with a significant return for both NPM Capital and CARe’s management team.