Global Auto Holdings Explores Toronto IPO After Reaching $8 Billion Revenue

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Global Auto Holdings is exploring a possible Toronto initial public offering as early as this year, according to people familiar with the matter. The company, founded in Canada and headquartered in London, owns car dealer franchises including the UK's Lookers, Canada's Alpha Auto Group, and Wismo Group in the Nordic region. It has expanded through acquisitions, most recently buying Mercedes-Benz AG's Berlin-Brandenburg branch in May, adding seven locations and more than 1,100 employees. Global Auto previously acquired Lookers in 2023 and took it off the London Stock Exchange, before buying Denmark's KW Bruun import and digital businesses in a $1.17 billion deal the following year and renaming them Wismo Group. The company works with brands including BMW, Ford, Honda, Toyota and Audi, has about 7,500 associates across franchise dealerships, third-party dealerships and workshops in eight countries, and generates about $8 billion in revenue, though IPO talks are still ongoing and listing details could change.