Volvo CE completes sale of GB dealership
After a period of employee consultation, Volvo Construction Equipment has concluded the sale of its Volvo Construction Equipment GB dealership to long term distribution partner SMT, through its newly established subsidiary, Services Machinery & Trucks Ltd.
Volvo Construction Equipment, part of the AB Volvo Group, has completed the divestment of its wholly owned British dealership to SMT. The previously announced deal, signed on 4th July, was followed by a period of employee consultation, and became effective on 31st August. The sale includes the distribution rights for Volvo-branded construction equipment machines, parts and aftersales in Great Britain, as well as Volvo Construction Equipment Great Britain’s headquarters in Duxford, Cambridgeshire, its nationwide operations, most other assets and the transfer of all employees. The existing management structure remains in place.
SMT is 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 had revenues in 2016 in excess of €350 million, and is a distribution partner for other Volvo Group companies.