SMT is the Volvo dealer for Benelux and 18 African countries. It is taking over all distribution rights for Volvo-branded construction equipment machines, parts and aftersales servicing in England, Scotland and Wales. It is also taking over Volvo Construction Equipment Great Britain’s headquarters in Duxford, its nationwide operations, most other assets and the transfer of all employees. The existing management structure will remain in place.
The deal was signed on 4th July 2017 and is now followed by an employee consultation period. The takeover is expected to take effect on 31st August 2017.
Volvo CE president Martin Weissburg said: “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. This move supports the general transformation program that is improving the long-term competitiveness of Volvo CE.”
SMT is part of the SDA Holding group and had revenues in 2016 of €350m.
Carl Slotte, president of Volvo CE’s Europe, Middle East and African sales region, said: “This change is an example of Volvo CE’s objective of focusing on the development of industry-leading products and services, while at the same time partnering with likeminded and entrepreneurial distribution partners. We feel that further growth in Great Britain is best achieved under the ownership of a strong independent dealer. We believe SMT, with its impressive record of accomplishment in the construction equipment market, is the right strategic distribution partner to grow and invest in this important European market long term.”
Nick Allen, managing director of Volvo CE in Great Britain, who expects to transfer to the new owners, said: “SMT really understands what it means to represent Volvo, so I am confident that we are in safe hands – we are excited at the prospect for developing the business further under our new owners.”
SMT chief executive Jérôme Barioz said: “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.”