BASF has acquired a majority share of the internet platform UBench with offices in Turnhout and Geel, Belgium. Both companies have agreed not to disclose financial details of the transaction, which includes UBench International NV, CarRoll BVBA and DLight BVBA. Regulatory approvals are not required.
BASF says the transaction strengthens the market position of its automotive refinish business. UBench and its more than 30 employees continuously advance the in-house developed internet platform and manage the service portfolio for various customers in the automotive aftermarket, such as leasing companies, insurance companies, car manufacturers and companies with large fleets.
The company provides accident management and claims handling services, as well as a variety of procurement and other services. “The transaction reflects BASF’s strategic and long-term commitment to grow in the refinish business beyond premium paint and to enhance customer experience,” said Dirk Bremm, President of BASF’s Coatings division.
“UBench is a collaborative digital platform business that increases our portfolio by providing service solutions,” said Katja Scharpwinkel, Senior Vice President BASF Automotive Refinish Coatings Solutions Europe. “By connecting all players in the automotive aftermarket industry, we strengthen our position in the fast-growing automotive service segment.”
UBench will continue its current activities as a standalone business under the umbrella of the newly established UBench BV. Peter Verbraeken, Founder and CEO of UBench, will hold a minority share supporting consistency and future strategic development of the business.