Belgian company to buy Laser franchises
posted on 12th January 2018
Belgium-based multinational vehicle glass repair business Belron has agreed to buy Australiasia's largest plumbing and electrical services franchise, Laser Group, for an undisclosed sum. Laser was founded in West Auckland by fellow electricians David Clemmett and Pete Bassett and started franchising in 1999, mostly by signing up existing electrical businesses. The company twice won the Westpac Supreme Franchise System of the Year title, in 2005 and 2006, and further expanded by developing Laser Plumbing on a similar platform. The company started franchising in Australia in 2004 and now has 239 franchisees across both countries. Pete Bassett died tragically in 2010.
Belron already owns the Smith&Smith glass business in New Zealand.
The international vehicle glass repair and replacement group, which is part of Belgium-listed D'Leteren, said it had made the acquisition through its subsidiaries O'Brien in Australia and Smith&Smith in New Zealand. The deal is subject to finalisation of a due diligence book checking exercise.
Laser Group, through its members, provides plumbing and electrical services to both business-to-customer and business-to-business customers throughout Australia and New Zealand.