PSA Group — the carmaker behind brands Peugeot, Citroën and DS — has acquired a majority stake in European auto-repair marketplace Autobutler.
Founded in 2010 by Christian Legêne and Peter Zigler, the startup lets car owners get car repair quotes online from garages in Denmark, Sweden, U.K. and Germany, thus bringing greater transparency to the auto-repair industry.
Terms of the deal remain undisclosed, except that PSA Group is now a majority shareholder in Autobutler. However, it’s my understanding that the “acquisition” sees an exit for investors, such as VCs Creandum and Index, and angel investor Jesper Buch.
In addition to purchasing those shares, PSA Group will also be making a significant “two-digit million Euro” investment into the car repair online marketplace. According to sources, it will spend over €30 million on the deal in total.
The carmaker says the acquisition plays into its “Push to Pass” corporate strategy, which sets out a vision for how it plans to “digitise” the company. This includes a move from car “ownership” to “experience”.
Specifically, it says the deal strengthens PSA Group’s multi-brand aftermarket offering, particularly for what it calls “smart buy” customers who actively seek the best value for money.
It says it will also help the Group to develop business in its own networks, expand its customer base, attract new independent auto repair shops, and improve its expertise in “digital aftermarket”.
Autobutler co-founders, Peter Zigler and Christian Legêne, said in a statement: “The future in the automotive industry is digital. For the last six years we have proven that car owners are ready to go digital in the search for reputable garages. With PSA’s focus on digitalisation and their Push to Pass strategy we see great synergies and believe the alliance is a good match which will help Autobutler become Europe’s number one platform for online workshop repairs offering the best transparency and trust”.