CVC Capital Partners and Nordic Capital are exploring exit options for Cary Group that could value the business at more than €3bn, according to people familiar with the matter cited by Bloomberg.

The firms have begun discussions with advisers regarding a potential sale or IPO of the vehicle glass repair platform, although deliberations remain at an early stage.

Cary Group operates across Europe, with a presence in markets including Sweden, Denmark, France, Germany, Spain, and the UK, offering vehicle glass repair and related services.

CVC and Nordic Capital took the company private in 2022 in a $889m transaction, positioning it for further expansion across its core markets.

The potential exit highlights continued private equity activity in the automotive services sector, where scalable platforms and cross-border operations can support attractive valuations.

The process comes as other assets in the vehicle glass repair market are also being evaluated, reflecting broader consolidation and investor interest in the sector.

There is no certainty that the discussions will result in a transaction.

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