Global Auto Holdings Ltd., the owner of car dealer franchises including the United Kingdom's Lookers, is exploring an initial public offering in Toronto, according to people familiar with the matter.
IPO Plans and Background
The company, which also owns Canada's Alpha Auto Group and Wismo Group in the Nordic region, is weighing going public as soon as this year, the people said, asking not to be identified as the details aren't public. Global Auto has built the business through acquisitions, most recently Mercedes Benz AG's Berlin-Brandenburg branch in May, which has seven locations and more than 1,100 employees.
Deliberations Ongoing
Deliberations are ongoing and details of the listing could change, the people said. Global Auto declined to comment.
Company Profile
Founded in Canada and headquartered in London, Global Auto works with brands including BMW, Ford, Honda, Toyota and Audi. The company has about 7,500 associates across franchise dealerships and third-party dealerships and a network of workshops in eight countries, generating about US$8 billion in revenue, according to its website.
Recent Acquisitions
Global Auto acquired Lookers in 2023 and delisted the company from the London Stock Exchange. It went on to buy the import and digital businesses of Denmark's KW Bruun in a US$1.17 billion deal the following year, and renamed it Wismo Group.
