Volvo CE to divest UK dealership to SMT
Equipment manufacturer’s long-term distribution partner SMT to take on British dealership
VOLVO Construction Equipment are divesting their wholly owned UK dealership to long-standing distribution partners SMT. The deal is now followed by an employee consultation period before becoming effective on 31 August 2017.
The sale includes: distribution rights for Volvo-branded construction equipment machines; parts and aftersales in the country; and Volvo CE’s UK headquarters in Duxford, Cambridgeshire, as well as the nationwide operations, most assets and the transfer of all employees. The existing management structure will remain in place.
‘Volvo CE’s distribution in Great Britain is now in the hands of an independent and strategically aligned distribution partner, led by an experienced leadership team,’ said Martin Weissburg, Volvo CE president.
‘This move supports the general transformation programme that is improving the long-term competitiveness of Volvo CE. SMT are already an established Volvo Group distribution partner, 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, SMT’s revenues in 2016 were in excess of €350 million and they are already an established distribution partner for other Volvo Group companies.
Nick Allen, managing director of the UK dealership, believes the acquisition will help the company to become even more agile and continue to maintain the delivery of industry-leading customer services to its customers.
‘SMT really understands what it means to represent Volvo, so I am confident that we are in safe hands and we are excited at the prospect for developing the business further under our new owners,’ he said.
SMT CEO Jérôme Barioz added: ‘This acquisition is an important part of SMT’s growth strategy and joins our successful recent purchases of Volvo CE distribution businesses in Benelux and Morocco. We respect what has been achieved by the Volvo team in Great Britain, and under SMT ownership we are committed to investing in its future success, one driven by offering the highest standards in services to customers.’