Volvo CE divests British dealership to SMT Holdings
Volvo Construction Equipment has concluded the sale of its British dealership to Services Machinery & Trucks, a subsidiary of SMT Holdings
Volvo Construction Equipment (Volvo CE) has divested its British dealership.
The Sweden-headquartered machinery manufacturer, which forms part of AB Volvo, has concluded the sale of its Volvo Construction Equipment GB dealership to Services Machinery & Trucks, a newly established subsidiary of long-term distribution partner, SMT Holdings.
Under the terms of the deal, SMT will take ownership of Volvo-branded construction equipment, parts, and aftersales activities in Great Britain.
The sale will also include Volvo CE’s GB headquarters in Duxford, Cambridgeshire, its nationwide operations, most other assets, and the transfer of all employees.
Volvo Construction Equipment GB’s existing management structure will remain in place, according to the stakeholders.
SMT is also responsible for the distribution of Volvo CE products and services in the Netherlands, Belgium, and Luxembourg, as well as Algeria, Morocco, Nigeria, and 15 other African nations.
Part of SDA Holding, SMT achieved revenues in excess of EUR350m in 2016.