Ryds Bilglas is Sweden’s leading company within vehicle window repair and replacements, offering a comprehensive service package - from managing the contact with the customer’s insurance company, to offering a complimentary car or electric bike to customers whilst waiting for their vehicle.

Company Description

The foundation of Ryds Bilglas was laid in 1947 by Erik Ryd who started Ryds Glasmästeri in Sundsvall, Sweden. In January 2018, both second and third generation Ryd family members were active in the company, which by this time had more than 300 coworkers and operations in Sweden, Norway and Denmark.

During Nalka Invest’s ownership period, Ryds Bilglas’ operations was significantly expanded and developed.
In January 2018 there were 88 wholly-owned Ryds facilities in Sweden, 16 in Norway and an additional 19 sites operated jointly with Samglas.

Investment Information

Year of Entry 2012
Year of Exit 2017
Ownership stake 61%
Turnover (2012) SEK 309m
Turnover (2017) SEK 697m
Buyer Nordic Capital (Nordic Capital Fund VIII)

Investment Rationale

Ryds Bilglas had established a relatively strong position on the Swedish market, a market characterized by a large number of independent, local and small actors alongside a few national operators. As a new generation of vehicles, and also next-generation car glass was introduced to the market, investments in new technology, geographical coverage and volume became important factors in order to create an attractive market position. The increasing market demand also resulted in a consolidation of the market.

Implementation

Nalka Invest identified great potential in the continued development of Ryds Bilglas as a leading actor, also beyond the Swedish borders. Through a number of acquisitions and opening of new sites, Ryds Bilglas went from having repair shops in 32 Swedish towns, to a nationwide network of 88 sites in 52 towns. Ryds Bilglas also made a strategic acquisition to enter the Norwegian market and in January 2018 the company had 16 sites in Norway. Nalka Invest also separated the operation of Ryds Bilglas from related company Ryds Glas to create a distinct brand and an operation completely focused on car glass.

In addition to a large number of acquisitions and new sites, investments in new technology and equipment increased. This enabled Ryds Bilglas to handle the most modern car models and glass technologies available on the market. Particularly important was the investment in new systems for calibration of the vehicles’ safety system when replacing a windshield.

Investments were also made in systems and methodology for improved customer care which contributed to very satisfied clients, manifested in a market leading Net Promoter Score (NPS). Amongst other things, Ryds Bilglas developed the central customer support department in Västerås in order to minimize the number of customer care errands handled by the individual repair shop. This reduced the amount of administration for the individual site, which in turn enabled staff to focus on core operations. The centralized customer support also strengthened relations with the insurance companies as Ryds Bilglas now also could handle parts of the insurance company’s customer support errands in a more efficient way.

In January 2018, Ryds Bilglas had more than 300 co-workers, servicing vehicles at more than 100+ sites in Sweden and 16 in Norway. In 2012 Ryds Bilglas had a turnover of around 300 MSEK and by 2017, this number had grown to around 700 MSEK.

Value Added

Customer care

Development of the central customer support function and investments in systems and methodology for customer care, resulting in high customer satisfaction.

Several acquisitions

Managed a large number of acquisitions and opening of new sites in Sweden. By a strategic acquisition in Norway, Ryds Bilglas could also enter this market. The company also laid the groundwork for an entry on the Danish market.

New technology

Investments in new technology enabled Ryds Bilglas to handle a new generation of vehicles and car glass technology introduced to the market.

Clear brand

Separated Ryds Bilglas from Ryds Glas to gain clarity and focus in brand and operations.

Nalka has been an excellent partner and valuable sounding board for me in my role as CEO, during our growth journey the last few years. With Nalka’s support we have consolidated the Swedish car glass market and expanded in the Nordics, while also carrying out a number of operational improvements.

Anders Jensen
CEO

During our years together with Nalka, we have taken Ryds Bilglas from a Swedish family-owned company, to an international company with a strong operational platform. Despite this transformation, we managed to keep Ryds Bilglas’ strong entrepreneurial culture. Nalka has contributed to this transformation with great dedication, strategic direction and operational understanding.

Leif Ryd
Entrepreneur and Co-owner
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