Cazoo buys SMH Fleet Solutions
17 September 2021
Author: Sean Keywood
Online car retailer Cazoo has announced the acquisition of SMH Fleet Solutions.
The takeover of the vehicle preparation, logistics and storage firm is set to double Cazoo's capacity in this area.
SMH currently processes more than 70,000 vehicle refurbishments a year across six locations, and carries out more than 150,000 vehicle movements annually.
Cazoo founder and CEO Alex Chesterman said: "Given strong consumer demand, the only real constraint to our future growth is ensuring that we have adequate capability to recondition, store and deliver enough cars to keep up.
"By acquiring SMH, this helps solve that and de-risks our future growth by immediately doubling our number of vehicle preparation sites and significantly enhancing our team of vehicle preparation and logistics staff. I look forward to welcoming the SMH team to Cazoo.
"Buying or selling a car entirely online from the comfort of your home and having it delivered or collected in a matter of days, just like any other product today, is clearly resonating with consumers and our record growth continues as they embrace the selection, value, quality and convenience of our proposition."
SMH CEO Tim Hudson said: "We're delighted to be joining forces with Alex and the team at Cazoo and see this as a perfect fit for SMH.
"We have built one of the leading teams in vehicle preparation and logistics in the UK and are very well placed to support the remarkable pace of growth at Cazoo and help it deliver on its mission of providing the best car buying and selling experience in the UK."