Binswanger Glass Sells Auto Glass Division to Safelite® Group
FOR IMMEDIATE RELEASE
Media Contact: Jennifer Brereton
MEMPHIS, TN (10/4/2022): Binswanger Glass, a leader in the glazing industry, announced an agreement to sell its auto glass division to Safelite Group, owner of Safelite AutoGlass®. The transaction was completed on Friday, September 30, 2022.
“Binswanger has been through a lot of changes over the last 150 years, and I am excited to realign our business strategy so we can focus on our core competencies in the Commercial and Residential flat glass segments of the company that represent 90% of the overall business,” said Mark Newsome, President and CEO of Binswanger Glass.
The sale of the auto glass division allows Binswanger to bolster its position as a commercial and residential flat glass leader, following its mission of providing world-class service to its core customers. Meanwhile, Safelite strengthens its foundation in vehicle glass repair, replacement, and recalibration. The two companies have agreed to ensure a smooth transition over the next 30 days.
“This is an exciting time for Binswanger. We have a lot of strategic initiatives going on that are transforming this company to provide first-class service to our residential and commercial customers. Our brand has never been stronger or more relevant,” said Blake Hancock, CFO/COO of Binswanger Glass.
About Binswanger Glass
Binswanger Glass, founded in 1872, is headquartered in Memphis, TN, with 50 locations in 12 states. Binswanger is one of the largest retailers and installers of glass products within the commercial and residential industry.