SMT conclude the acquisition of activities from Volvo Construction Equipment in Great Britain
VOLVO Construction Equipment, part of the AB Volvo Group, have concluded the sale of their wholly owned Volvo Construction Equipment GB dealership to long-term distribution partners SMT Holdings SA (SMT), through their newly established subsidiary, Services Machinery & Trucks Ltd.
The previously announced deal, signed on 4 July, was followed by a period of employee consultation and became effective on 31 August.
The sale includes the distribution rights for Volvo-branded construction equipment machines, parts and after-sales in Great Britain, as well as Volvo CE Great Britain’s headquarters in Duxford, Cambridgeshire, their nationwide operations, most other assets and the transfer of all employees. The existing management structure remains in place.
SMT are already established Volvo Group distribution partners, distributing Volvo CE products and services in the Netherlands, Belgium and Luxembourg, as well as 18 African nations, including Algeria, Morocco and Nigeria. Part of the SDA Holding group, in 2016 SMT had revenues in excess of €350 million.