Autoglass owner Belron explores potential listing

The windscreen replacement and repair business—which counts Autoglass in UK, Carglass in Europe, Safelite in US among its brands—is weighing a potential IPO

Autoglass owner Belron is exploring strategic options for the business, including a potential stock market listing.

Windscreen replacement and repair business Belron employs around 32,000 people in 42 countries.

The company’s majority owner, Belgian investment group D’Ieteren, said Wednesday that Belron shareholders are evaluating options regarding the minority shareholder stakes, but that no decision has been made.

Windscreen replacement and repair business Belron, which counts Autoglass in the U.K., Carglass in Europe and Safelite in the U.S. among its brands, is led by former AB InBev Chief Executive Officer Carlos Brito. The company’s chief financial officer, Humphrey Singer, was finance chief at Marks & Spencer.

The company reported a pretax profit of 526.1 million euros ($612.1 million) in the first six months of the year as sales rose 4.7% on year to 3.57 billion euros, buoyed by strong growth in North America, its largest sales market.

D’Ieteren bought a majority stake in Belron in 1999 from the founding family and South African Breweries, before selling a 40% stake to U.S. private-equity firm Clayton Dubilier & Rice in 2018.

D’Ieteren retains a 50.3% holding, with Clayton Dubilier & Rice holding 20.4%, Hellman & Friedman, Singapore sovereign wealth fund GIC and asset manager BlackRock holding 18.2%, while management, employees and the founding family hold 11%.

Belron employs around 32,000 people globally and operates in 42 countries through a mix of wholly owned businesses and franchises.

D’Ieteren said Wednesday that it “reaffirms its long-term commitment to Belron.”

Write to Dominic Chopping at dominic.chopping@wsj.com