maconda supports HUK-COBURG in its investment in Pitstop, one of the largest independent car workshop chains
maconda News July 2022
The team of the Cologne-based consulting boutique maconda has supported the leading German motor car insurer, HUK-COBURG, with a comprehensive commercial due diligence in preparing the investment in Pitstop.
By investing in the second largest independent workshop chain in Germany, HUK-COBURG is further expanding its “mobility ecosystem” and expanding its range of services in the growing mobility market.
maconda’s consultants, who have many years of experience with branch-based distribution systems, services and the consumer business, successfully evaluated Pitstop’s business and market environment in an extensive commercial due diligence (CDD).
Pitstop operates a car workshop network with more than 300 exclusively owned branches in Germany and can now look back on a 50-year history. After opening its first branch in Berlin in 1971, the company was exclusively active in the fast-fit sector for a long time – through consistent focus and investment in further training, equipment and technology, the car workshop chain now offers almost all motor vehicle services for all brands. Customers can expect top quality at a fair price for all maintenance and repair work as well as for spare parts. Pitstop has been a family-run medium-sized company since 2013.
About HUK-COBURG Autoservice
The Düsseldorf-based HUK-COBURG Autoservice GmbH is fully owned by the HUK-COBURG insurance group. Since 2016, HUK-COBURG Autoservice has been acting as an agent for car workshop services such as inspections, general and emissions tests and wheel changes for motor insurance customers of HUK-COBURG and HUK24. These services were previously provided by around 150 Autoservice partner workshops nationwide. The Pitstop car workshops will be included in the range of services offered by the Autoservice network, which will then be expanded by around 300 to 450 workshops across more than 200 cities.
About the HUK-COBURG insurance group
Counting more than twelve million customers, HUK-COBURG is the largest insurer for private households with traditionally low-priced offers ranging from motor insurance, liability, accident, property and legal protection insurance to private health, life and private pension insurance. In 2021, HUK-COBURG had a premium income of over 8 billion euros, making it one of the ten largest German insurance groups.
Traditionally, the focus is on motor insurance: with more than 13 million insured vehicles, HUK-COBURG is Germany’s largest motor vehicle insurer. In household and personal liability insurance, it is one of the largest operators on the market. HUK-COBURG, headquartered in Coburg, employed more than 10,000 people in total at the end of 2021.
maconda continues to expand its expertise in the automotive universe, B2C and B2B services and branches
In recent years, the maconda team has dealt with various service products, including those in the automotive market, as well as branch-based distribution systems, often with omnichannel in a wide range of industries, and has led several projects to success. These included many commercial due diligences, mandates for strategic realignment and business model optimisation as well as projects to improve the operative performance.
Intensive industry experience: Car parts dealers | Car wholesalers | Tyre dealers | Wheel and tyre management | Motor workshop chains | Smart Repair | Car rental | Commercial vehicle rental | Motorcycle supplies | Fifth wheel couplings | Technical fabrics for automotive | Public transport | Car wash | Driving schools | Chain stores from various industries | Franchise concepts | Omnichannel | B2C services | B2B services | and many more
For more than 20 years, maconda has been providing support in the acquisition of companies, performance optimisation and restructuring. With over 800 consulting and implementation projects and more than 450 transaction-related mandates, maconda has extensive experience to accompany challenging projects with pragmatism. Clients include medium-sized companies, business units of large corporations as well as international private equity investors and family offices.
maconda focus industries: Consumer Goods | Food | Clothing & Textiles | Retail & eCommerce | Packaging | B2C Services | B2B Services (incl. Business Process Outsourcing) | Future Technologies & Software | Manufacturing Companies | Healthcare & MedTech
maconda core topics: Transaction services | Business model development | Performance management