car care and accessory market

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Car Care & Accessory Market

Sector: Automotive

Jan 2015

Index

Indian Passenger Vehicles Market 3

Defining Car Care Market 8

Car Care Market Size 15

Companies in Car Care 19

Global Car Care Market 26

Global Car Accessory Market 41

VC / PE Transactions in Car Care Segment 47

www.indiabusinessreports.com 2Car Care Market

Indian Passenger Vehicle* Market

www.indiabusinessreports.com Car Care Market

* 4 wheelers only

Indians bought ~2.5m passenger vehicles in 2013-14


12% CAGR

Sales have grown at 12% CAGR over the 20 year period from 1994-95 to 2013-14 There have been only 3 years of de-growth in the period above, showing the strong underlying

growth trend

Source: SIAM, India Business Reports

-

5,00,000

10,00,000

15,00,000

20,00,000

25,00,000

30,00,000

Indian Passenger Vehicle Market

Market Segments


4%

32%

42%

9%

10%

2%

1% 0% 0%

0%

A

A1

A2

A2a

A3

A4

A5

A6

A6a

A7

A and A1 are the entry segmentl; they comprise around a third of the market A2 and A2a is the mid-segment, it is around half the market From A3 and above, the market starts moving into the premium segment; this is around 15% of

the market


Over 20m passenger vehicles on Indian roads


6.61 7.18 7.95

9.4510.25

11.35

2.843.08

3.41

<10 year old <12 year old < 15 year old

PV segments (million nos)

Economy Mid Premium

Age Total PVs

<10 year old 18.90

<12 year old 20.50

< 15 year old 22.70

Cars even 15 years old are rarely discarded (though they change hands) Over 20 million passenger 4 wheelers on Indian roads likely Of this, ‘premium’ vehicles could amount to over 3 million


PV market projections


In FY20, we expect the Indian market to absorb roughly 4.5 million passenger vehicles Populations of PVs on the road of age less than 10 years will exceed 27 million Of these, premium cars aged less than 10 years will exceed 4 million.

Source:, India Business Reports

PVs sold Segments

Annual Last 10 years Entry Mid PremiumFY14 25,03,685 2,57,48,219 90,11,877 1,28,74,110 38,62,233

FY15P 27,03,980 2,59,48,514 90,81,980 1,29,74,257 38,92,277 FY16P 28,39,179 2,60,83,713 91,29,300 1,30,41,857 39,12,557 FY17P 31,79,880 2,64,24,415 92,48,545 1,32,12,207 39,63,662

FY18P 35,61,466 2,68,06,000 93,82,100 1,34,03,000 40,20,900

FY19P 39,88,842 2,72,33,376 95,31,682 1,36,16,688 40,85,006

FY20P 44,67,503 2,77,12,037 96,99,213 1,38,56,019 41,56,806

Defining Car Care Market


Two broad segments:


IBR segmentation of Car Aftermarket

Discretionary Necessary

Car Aftermarket

Care

Wash Detailing Accessories Tyre Care

Repair

Periodic Service

Accident

Typically discretionary spend Greater role for independent players

Typically non-discretionary spend Mostly at OEM controlled or authorized

dealers

Key features of Auto aftermarket


New car sales is typically only 1/3rd of lifetime revenues of a car. Hence aftermarket is a very important segment of the auto market

A 2012 McKinsey study pegged Indian aftermarket parts market at Rs280B (Rs 28,000 crore) in 2012, and projected a size of Rs 390B to Rs450B by 2015.

Mckinsey report does not seem to mention total aftermarket size. Assuming global metric or roughly 50% labour component, total aftermarket size could reach Rs 590B to Rs 660B by 2015.

Aftermarket typically has 2 main channels: authorized dealers and independent outlets

Authorised dealers have strong linkages to OEMs, and are often linked to a single OEM. Periodic service, particularly in warranty period, and accident jobs are often done here

Independents can be workshops or simply retail shops selling parts and accessories.

The focus of this report is the car care and accessory market, which is largely serviced by independents.

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

2012 2015

Indian Car Parts Aftermarket (Rs Crore)

Source: McKinsey

Car Care – wash and detailing


Car wash market

• A highly unorganised market beginning to see first signs of emergence of organisedplayers

• More consumers are opting for organised car wash . It is estimated that in next 5 years, there could be nearly 5000 organised outlets for car wash

• Few key players are - Speed Car Wash, CarzSpa, Express Car Wash and Green Duck (waterless car wash)

Car detailing market

• This is more specialised service than just car wash

• Largely ‘car enthusiasts’ opt for various detailing services

• Though with increasing affluence and latest cars, number of ‘car enthusiasts’ is increasing exponentially

• Few key players are – 3M, CarzSpa, and Express Car Wash . 3M and CarzSpa offers most comprehensive services

30-01-2015Wisdomsmith Advisors LLP. Confidential

and Proprietary Information12

Exterior steam wash Extensive interior cleaning

Ozone Treatment Paint Correction/Protection Treatments

Car Care services

Car cleaning / detailing can involve both products and services sale

30-01-2015 Wisdomsmith Advisors LLP. Confidential and Proprietary Information 13

Paint protection – polymer nano sealant Under Body Polymer Coating

Anti-Rust treatment Nano glass coating

There are other service offerings like headlight restoration, anti-glare glass treatment etc.

Car Care Services…2

Car Accessories


There are several types of car accessories – these are all discretionary items which the car owner buys to enhance the basic car experience

Category Products

Upholstery items Seat covers, mats

Exterior items Alloy wheels, spoilers, chrome trim, running boards, customized license plates

Beauty & Hygiene Perfumes, napkins

Electronics Music system, Nav sat; remote start; parking assist; security system; night vision; phone chargers

Car care products Car cleaning products, waxes and exterior finish products

Car Care Market Size


Car Wash Market Size


2,1

72

80

1

65

3

61

8

55

8

33

2

28

7

24

0

23

5

22

2

CAR POPULATION IN KEY CITIES (‘000, 31.3.2012)

Daily cleaning via Paid Help

6.1m cars in top 10 Indian cities as on Mar’12 Assuming 50% of these use a paid help for

daily cleaning, their annual spends could add up to Rs 1500 crore (Rs 15b)

This should grow > 15% p.a driven by 8-10% growth in car pop, and rest via wage inflation

Source : Ministry of Road Transport & Highways Govt. of India. (ON393)

Washing / cleaning at service centres

Assume 3 visits per year to authorised dealer or other garage for regular service which includes a wash/clean component

Assuming Rs 500 per occasion on an average, this implies a market size of Rs 920 crore

Again a growth rate of 15% is a safe assumption

Car wash is easily a Rs 2500 crore market in top 10 metros Top 10 metros can accounted for 32% of all cars in India as on Mar’12 Accounting for lesser propensity to spend in non-metros, all India market could be Rs 5000 crore (Rs 50B)

as a rough estimate. At 15% growth, market would be ~Rs 12,000 crore by FY20.

Car Detailing Market


This market was created by 3M when it entered in 2002 In FY14, market size was estimated at Rs 375 crore by 3M, which claims a 50%

market share Market comprises both products and services 3M believes the market is growing at 25-30% per annum Taking a 20% growth rate over FY14-20, the market size should grow to Rs 1100

crore

Car Accessories


This market has various segments as mentioned earlier We estimate the market size is around Rs 4200 crore currently, or just under 10%

of total car parts aftermarket, in line with global averages. Assuming a conservative 12% growth rate, the market could grow to Rs 8500 crore

by FY20

Accessory Market in India

Seat Covers

Mats

Perfumes

Car Napkins

Car care products

Music Sys

Car Security Systems

Alloy Wheels

Carriers etc

Companies in Car Care


3M India: Leader in Car Detailing Business


3M also retails its own branded accessories, though limited in the range

Entered the market in 2002

Established its first standalone outlet in Bangalore in 2010

Plans to have a total of 80-100 standalone outlets and also be visible through 1,700 car dealerships in the organised sector over a three-year period

3M’s FY14 revenues from this business were reportedly around Rs 175 crore

3M: Leader in Car Detailing Business


Solution• Area: 1400-1800 Sq. Ft.

• 2-3 ramps

• Washing area

• Manpower: 6-7

• Revenue Stream

– Car detailing

– Interior / Exterior

– Corrosion treatment

– Films

– Retailing of car care products

Crossover• Area: 1800-2500 Sq. Ft.

• 3-5 ramps

• Washing area

• Manpower: 8-12

• Revenue Stream

– Car detailing



– Films


– Car graphics

– Customer engagement area

Experiential• Area: 2500-4000 Sq. Ft.

• 6-8 ramps

• Washing area

• Manpower: 12-16

• Revenue Stream

– Car detailing



– Films


– Car graphics

– Customer engagement area

– Bays for DIY activities

3M also retails its own branded accessories, though limited in the range

3M store count


Sr No City Region Stores Car Population Cars/Centre Penetration* (%)1 Pune West 5 3,32,293 66,459 2.3%

2 Mumbai West 9 6,17,556 68,617 2.2%

3 Bangalore South 10 8,00,866 80,087 1.9%

4 Chennai South 7 6,53,270 93,324 1.6%

5 Nashik West 1 98,425 98,425 1.5%

6 Nagpur West 1 99,233 99,233 1.5%

7 Kochi South 1 1,32,628 1,32,628 1.1%

8 Coimbature South 1 1,57,977 1,57,977 0.9%

9 Jaipur West 1 2,35,310 2,35,310 0.6%

10 Ahmedabad West 1 2,39,558 2,39,558 0.6%

11 Hyderabad South 2 5,58,081 2,79,041 0.5%

12 Chandigarh North 1 2,86,584 2,86,584 0.5%

13 NCR North 3 21,72,069 7,24,023 0.2%

Total 43 63,83,850 1,48,462 1.0%

3M appears to have 43 branded outlets as of now over 13 cities This appears to be much less than potential, given an average of almost 150K cars per centre Assuming a centre can cater to 1500 cars per annum, this amounts to 1% penetration, showing immense latent potential 3M is also present in around 1500 dealers, but the usage there is much less. Very few people go to dealer workshops for a detailing process

*assuming a saturation customer base of 1500 cars per centre

CarzSpa Autofresh: Leading Indian detailing company


Region Cities CentresEast 5 5

North 3 5South 15 16West 17 28

Outside India 2 2Total 42 56

Pioneering Indian owned company in car detailing business, headquartered out of Surat, Gujarat (3M is an MNC).

Entered this business in 2007. Now operates 56 franchisee outlets in 42 locations under the brand CarzSpa.

Has outlets across regions, though with less penetration in North India as compared to West and South

Launched an e-commerce portal for car accessories in 2011 under the url www.autofresh.in

Is launching a new business of exterior paint protection and restoration under its own brand – FINIX. Has got rights for Indian subcontinent (less Pakistan) from a US company RestorFx, which has a leading paint protection product

Current turnover of around Rs 2 crore, though franchisee revenues are much higher

Intends to expand across India under its CarzSpa and Finixbrands, with a target of 400 outlets

http://www.autofresh.in/

Reliance AutoZone


• Automotive Products (Accessories, Batteries, Tyres & Tubes, Lubricants etc) & Car Care activities

• Offers more than 50 leading brands and 1500 products

• Currently the business is only in 6 locations in 3 cities

Curent Locations

Bangalore 3

Ghaziabad 2

Gurgaon 1

Total 6

Liv India Management Pvt Ltd (Speed Car Wash)

• 22 outlets across 19 cities

• Some of the stores are really small towns like Baramulla in J&K, or Khanna and Batala in Punjab

• Franchisee requirements:

– 1000 to 1200 sft space

– Abillity to invest Rs 12-15 lakh

• Liv India suggests frachisees can make Rs 1 lakh per month, at 10-12 cars per day

– Assuming 10 cars per day and 25 days per month, this is 250 cars per month

– If the company means a PBT of Rs 1 lakh, the company would need billings of ~Rs 1.6 lakh. This implies a revenue of roughly Rs 600 per car

– The company offers not just car wash, but interior and exterior detailing as well, so average billing in the above range is possible

• For FY14, Liv India reported revenue of Rs 1.25 crore and net profit of Rs 12 lakh

• FY11 was the first financial year for the company, FY12 was the first full year of operations


Sr No City Region Stores

1 Patna East 2

2 Raipur East 1

3 Dimapur East 1

4 NCR North 2

5 Baramulla North 1

6 Batala North 1

7 Khanna North 1

8 Ludhiana North 1

9 Mohali North 1

10 Gorakhpur North 1

11 Mysore South 1

12 Kozhikode South 1

13 Coimbature South 1

14 Erore South 1

15 Namakkal South 1

16 Tirupur South 1

17 Surat West 2

18 Ahmedabad West 1

19 Pune West 1

Total 22

Global Car Care Market


US Car Wash Industry Statistics


Car Wash Industry Statistics Data

Car wash industry annual revenue $5.8 billion

Car wash industry annual revenue including gas purchases $48 billion

Number of full-service carwashes 9,000

Number of exterior conveyor washes 10,500

Number of self-serve car washes 36,000

Number of in-bay automatics 58,000

Total number of carwashes outlets 113,000

Total number of car wash employees 350,000

Number of cars washed annually 2.3 billion

Number of cars washed per day 8 million

Source: MSSP, IRS, Professional Carwashing and Detailing, US Census Bureau, 2014

US Car Wash Unit Outlet P&L


In-Bay Automatic Statistics for a single operation Data

Average number of cars washed annually 19,947

Average sale per vehicle $6.34

Average profit per vehicle $4.35

Average annual profit $86,531

Average annual revenue $139,000

Source: MSSP, IRS, Professional Carwashing and Detailing, US Census Bureau, 2014

Global Car Detail Industry: Trends and Innovations

Industry Size

• Professional detailing is a $36 billion market (Source: Ziebart International Corp)

• High-end automotive detailing is a $7.5 billion industry

From Wholesale to Retail

• Before 1980s, detailing was a wholesale service done by, or for, the automobile detailer to restore used cars to a like-new condition.

• There literally was no "retail" detailing market because the average American did not own their vehicles long enough to require a detail service.

– According to NADA (National Auto Dealer's Association), the average American owned a vehicle for 3.2 years in 1978

• Once vehicle prices began to increase in the 1980s, so did the length of ownership.

– For example, the average price of a used car in 1982 was about $3,000 and a new car just over $10,000. Today, the average prices are, respectively, over $15,000 and over $24,000.

– And the corresponding length of ownership has moved to over 8 years now


Increasing length of ownership – a key driver for detailing


• Average age of light vehicles in the US has increased also every single year• This is a result of two factors: Costlier vehicles, and also better engineering which is making

vehicles last longer• Greater need to maintain and restore cars as vehicle age increases

Global Car Detail Industry: Trends and Innovations

Change in social environment

• People working longer hours, both spouses working with less time for leisure-time activities.

• As a result, the DIY (do it yourself) market has given way to the DIFM (do it for me) market.

– Today's consumers not only want their cars washed, but they recognize a need for polishing and waxing and interior cleaning and shampoo and want someone to do that for them

Advent of express maintenance detailing services

• Existing detail industry, which was wholesale oriented, did not respond to the consumer demand for detail service because their focus was simply on doing work for the auto dealer.

• However, the consumer demand and change in social environment, forced the automatic carwash, the consumer's purveyor of car care service, into the detail business.

• Later, other auto service businesses saw the potential: Body shops; quick lube shops; and even auto dealers themselves began offering detail service to the retail customer.

• But the carwash industry found that their fast service did not fit well with the time consuming detail service. The carwash customer wanted a service they could get quickly while at the carwash.

– So what was born out of this situation was a new side to the detail industry, what is now called express maintenance detailing services, which typically involves a quick wax and/or a quick carpet shampoo and maybe seat shampoo. Detail services that can be completed in 30 minutes or less.


Global Car Detail Industry Trends and Innovations

Full-service restoration detailing

• While this form of detailing has remained the same, in concept, it has changed.

• Some carwash operations are still offering full-service detailing services, and as mentioned, body shops, quick lube operations and auto dealers are also cashing in on the demand for more extensive car care and offering this service to their customers.

• Also the number of freestanding detail shops has evolved from just doing wholesale detailing for the auto dealer to a combination of dealer work and retail work, with the edge with today's freestanding detail business going to retail.

• More and more business savvy detail business owners are not willing to provide full-service detailing services for the dealer at the "low prices" that dealers typically were charged in the past by the "back-alley" detail operations.

• This is one of the major things that has occurred in the industry that should continue for the next 10 years.


IMO Car Wash, Germany

• World’s largest Car Wash company (www.imocarwash.com), with presence in 836 locations around the world

• Founded in Germany in 1965

• In the UK it trades as ARC and IMO in the rest of the world

• Claims to wash over 30 million cars in 13 countries annually

• Since inception, has washed over 800m cars throughout the world

• Its outlets can wash a car in under 2 minutes

• Its machines are all manufactured in Germany

• For 9m2014, its revenue was £88m, or ~ £120m (USD 200m) on an annualised basis. Its EBITDA margin was ~30%

• Acquired by TDR Capital, a private equity group, in June’14. Was owned by Carlyle a few years ago


Ziebart International Corporation,USA

• Ziebart (www.ziebart.com) is the global leader in the car detailing business

• Founded in USA in 1959

• Annual revenues: $135 million worldwide dealer sales in 2013

• It is present in 400 licensed locations in 30 countries with 800 processing centers worldwide

• Provides complete range of car care solutions: interior and exterior detailing; protective films for car body and windows; rust protection solutions etc. Also sells accessories, though this appears to be a small part of its business.

• The franchise fee for a single point location in the United States is $25,000. The initial investment necessary to secure a full service Ziebart store is between $167,000 and $326,000. The royalty based on the product mix offering of the franchisee is, on average, 7.1% of sales.


http://www.ziebart.com/

US Car Wash Companies


Mister Car Wash

• Largest car wash company in the US

• Operating 136 car washes and 31 lube centers

• Employs nearly 5,000 men and women

• Founded in 1996 by Brown, McMillan & Co., a boutique private equity firm, to create the nation's first super regional car wash company.

• In 2007 Mister Car Wash was acquired by ONCAP, a mid-market private equity firm

• In August 2014 Mister Car Wash was acquired by Leonard Green & Partners, L.P for $400m

Wash Depot

• Founded in 1995

• Second largest car wash company in the US, present in 84 locations

• Operates full service car washes under multiple brands including Simoniz Car Wash®, Sparkling Image Car Wash® and Eager Beaver Car Wash®.

WashTec AG, Germany


• WashTec (www.washtec.de) is engaged in the development, manufacture, sale, and servicing of vehicle washing systems

• Founded in 1885 and is headquartered in Augsburg, Germany.

• Its products include gantry car washes, conveyor tunnel systems, commercial vehicle washing systems, self-service washing systems, washing materials, car care chemicals, and water recovery systems

• For 2013, WasTec reported revenue of EUR 300m, and net profit of EUR 11m

http://www.washtec.de/

Leading International Car Care Brands

Meguiar’s – the ‘surface care’ expert

• More than 100 years old company, established in 1901

• Brand sold in 45 countries

• Now one of the world’s leading ‘surface care’ products co.

• Corporate headquarters in USA and subsidiary offices in Toronto, Paris, and Sydney.

• Meguiar's now manufactures more than 300 different cleaners, polishes, waxes, conditioners, and protectants for homes, cars, boats, trains and planes, and almost every other type of surface


Formula 1 – the ‘surface care’ expert

• Brand owned by Northern Labs Inc., USA

• Company operates in ‘cleaning & disinfectants’ segment across four areas –Home Care, Auto Care, Health & Beauty and Industrial / Institutional / Medical

• Company is best known for its ‘wax product’ – Grade 1 Carnauba Wax.

– It enjoys the perception of hardest natural wax

– Preferred by most major carmakers and more than 70% car detailing professionals

Leading International Car Care Brands..2

Glass Science – the ‘glass care’ expert

• Glass Science is one branch of the Unelko Corporation, a repellent and “preventative cleaning” manufacturer.

• Unelko, founded in 1971, produces protective coatings and cleaners for auto glass to improve drivers’ visibility while enhancing the appearance of vehicles.

• Unelko developed new patented and patent-pending products to clean, seal, and protect glass surfaces under the name Glass Science

• Company earlier developed Rain-X® and Repcon®- rain repellent products, which were sold to Quaker State Corporation


AQuartz – pioneer in ‘paint protection’

• The World's First Paint Protection Film Form coating system.

• AQuartz Co. Ltd. specializes in the manufacture of Nano-Titanium based products derived from research and development into nanotechnology.

• Its product line consists of Titanium Coating Agent and Photo Catalyser, Iron Remover, Microfiber Towel, Odour Eliminator and various environment friendly car care products.


Armor All – ‘Tyre, plastic & trim’ care

• A brand of Armored AutoGroup Inc., headquartered in Danbury, Conn

• Armor All product range includes protectants, wipes, tire and wheel care products, glass cleaners, leather care products and washes is designed to clean, shine and protect

• Other well-known brand of the company is STP®. The range under this brand includes - Fuel Additives, Oil Additives, Functional Fluids & Appearance Products

• Company revenue for the 9 months ending Sep 2014 was ≈ $ 225mn


Menzerna – the ‘polishing’ expert

• Makes multiple ‘polishing’ products for various segments - Automotive, Marine, Jewellery, Household Articles, Sanitary fittings and Furniture / Music

• More than 100 year old company and makes more than 300 formulations

• Four subsidiaries in different segments and $ 13 mn revenue


Sonax – ‘Cleaning & Polishing’ expert

• More than 50 years old company with sales in over 100 countries

• Part of ‘The Hoffmann Group’ which has € 80 mn revenue, of which close to 30% is on account of exports

• Makes wide range of products across various needs – exterior paint work and chrome, interior and glass, tyres / rims and rubber, technical and workshop, winter related car care and accessories


Scholl Concepts – the ‘finishing’ expert

• A 40 year old company with innovative car care and car maintenance systems for the automotive repair- and paint industry

• Using its unique all-round 1-step nano-compound S17, one can remove even P2000 grit sanding marks in less than 15 seconds

• Its product range is under three broad segments – paint finish, car care and pad

• Product range is further categorised in ‘professionals’ and ‘consumer’ segments

Global Car Accessory Market


Market Size - US


US auto aftermarket was $238B for 2013 DIY share of US aftermarket is around 20% of total market.

o Accessory market is likely to constitute a significant chunk of DIY market (however break up not available)

o DIY is also highly amenable to internet commerce; sales shifting rapidly to online in DIY segment

From O’Reilly Auto Parts Analyst Day Presentation Aug’14

Online channel gaining rapidly in US DIY aftermarket


Online size reached $4.6B or ~10% of DIY market in 2013

Online DIY could reach 17% of total DIY by 2018, according to Booz & Co

Online DIY growing at 20% Offline (brick and mortar) DIY sales are

believed to have peaked in 2014, future growth to come from online in the US

Source: US Autoparts Inc, Investor presentation

Source: Booz & CO

Europe aftermarket

• The European automotive aftermarket is estimated at EUR121B in 2012 by consulting firm BCG

– Germany (47B), France (30B), UK (26B)

– Authorised dealers had 42% of the total market, independents had 58%

– Average spend per car was Euro 820

• Accessories and Consumables market is EUR8B, or around 7% of total aftermarket

– Of this, 67% is independent shops, rest is authorised dealers connected to OEMs

• Online share of parts sales increased to 6% in 2012 from 4% in 2010

– BCG expects online sales to grow at 15%


50

22

17

13

11

8

0 10 20 30 40 50 60

Accident Repair

Wear & Tear Repair

Mechanincal & Electronic Repair

Maintenance

Tires

Accessories and Consumables

European Aftermarket Size (EUR B)

Source: BCG

Several large retail chains in US Aftermarket


Advance Auto Part Inc

• Largest US autopartretailer, with 5300 stores as on Dec’13

• Market Cap: $11B

• Combined 2013 Revenue of $9.5 billion

• Revenue CAGR of 10%

• DIY share 43% of total sales

• Gross profit margin of 50% confirming strong margins available in aftermarket trade

• EBITDA margin of 12%

Auto Zone Inc

• Second largest US autopartretailer, with ~5000 stores as on Dec’13


• FY2014 net sales of approximately $9.5 billion

• Revenue CAGR of 7% over 10 years

• Industry leader in DIY market with ~15% market share

• Gross profit margin – 52%

• EBITDA margin of 22%

O’Reilly Auto Parts

• Third largest US autopartretailer, with ~4250 stores as on Jun’14


• $6.9 billion as of June 30, 2014

• Revenue CAGR of 21% over 10 years

• 58% revenue from DIY

• Gross margin 51%

• EBITDA margin 17%

Online car parts and accessory retailers


Exist.ru, Russia

• Largest online auto part retailer in Russia

• Also the 5th largest internet retailer in Russia across categories

• Reported revenues of ~$364m in 2013

• Sells 26 million different components from 1,200 leading suppliers

• The automotive aftermarket in Russia was ~$22B in 2013

Mister-auto.com, Europe

• Established in 2007, Mister Auto is one of the top online auto parts and accessories distributors in Europe and in the UK

• Each month, dispatches more than 100.000 parcels

• Claims to offer 300,000 parts and accessories

• Serves 21 countries in Europe

• Its private label is called BOLK

US Auto Parts Inc, USA

• Claims to be the No 1 US pure play autopart retailer, with 10 million monthly visitors

• Offers over 40,000 Private Label Products currently

• Adding 4-5K more this year

• Annual revenue ~$300m

VC/PE Transactions in Car Care and Accessories


Recent VC/PE transactions – Car Care


Date Company Investor Amount Business

Jan-15 Iden’s Detailing Inc Pacific Northwest Capital Group

NA Full-service auto reconditioning and cosmetic services business

Oct-14 Vacuum Technologies

Vopne Capital NA Company makes vacuum systems used in the car wash

Oct-14 Mister Car Wash Penfund $15.1m MCW is the largest car wash chain in the United States

Aug-14 Mister Car Wash Leonard Green & Partners $400m Acquired from ONCAP, another PE fund

Jun-14 DRB Systems Prarie Capital Car-wash software

July-11 SPA Car Wash Julin Run Capital (JRC) NA Car wash & Detailing. Owned & managed by JRC, after acquiring it from previous owner

2003 Car Pool Virginia Capital Partners NA Professional car wash and detailing services

Recent VC/PE transactions – Car Accessories Retailing


Date Company Investor Amount Business

Jan-15 AutoZone (South Africa)

Ethos NA South Africa’s largest auto parts company. 151 branches in 6 countries in Africa

Nov-14 Tiger Automotive Carlyle, Old Lane NA South African company with 104 stores; sells tires, allow wheels and other car accessories

Jan’14 BuyAutoParts.com Gladstone Investment Corp

$18.6 m US based web-only retailer of auto parts and accessories

Dec’13 Mister-auto.com Iris Capital and Bpifrance

Euro 10m European online retailer specialized in car parts and car accessories

Feb’12 Connect Parts Atomico $8.7m Brazil’s leading online retailer of motorcar parts

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Car Care Market

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Car Care Market

car care and accessory market

Business

car care market size

global car care market

car care segment

car care market12

car care market6

car care market42b

car care market new

global car accessory