Volvo Construction Equipment has completed the divestment of its wholly-owned British dealership to SMT.
The previously announced deal, signed on July 4, was followed by a period of employee consultation, and became effective on August 31.
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 a Volvo dealer distributing Volvo 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 of $418m and is a distribution partner for other Volvo Group companies.