Four-way merger to create a £120m turnover group set for green light
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Four-way merger to create a £120m turnover group set for green light
22
Jan

Four-way merger to create a £120m turnover group set for green light

A new business which will see four motor firms merge to become a £120m-turnover vehicle dismantling company headquartered in Doncaster will be trading from March 1.

Salvage and dismantling companies Doncaster-headquartered Motorhog, Cheshire-based Car Transplants, Gloucestershire-based FAB Recycling and Edinburgh-based DH Systems have confirmed their “game changing” merger is set to for the 1 March 2019 to create Synetiq.

The newly-created Synetiq business will be headquartered at Adwick-le-Street in Doncaster – creating further jobs for the region – and will combine over 150 years’ experience in the sector, bringing Motorhog, Car Transplants, FAB Recycling and DH Systems businesses into a single, unified organisation under the Synetiq brand.

The new Synetiq company has significant scale and capacity, operating 16 fully licensed and accredited sites across the UK, with a fleet of over 100 collection and delivery vehicles and having processed 100,000 vehicles in the last 12 months.

The firm has over 50,000 registered auction customers and sells in excess of 35,000 vehicles and 250,000 parts per year. Synetiq employs over 400 people and anticipates a first year turnover in excess of £120m.

Whilst the Synetiq name is new, the Board and wider team are well-known and respected industry figures who share the same principles, values and ambition.

Synetiq has ambitious plans for growth, underpinned by their uniquely integrated model, and is well-placed to deliver a best in class service to an industry where compliance, reputation, the environment and safety is of paramount importance.

Richard Martin, Synetiq Managing Director, said: “We are thrilled that Synetiq has been created to take the great work we did at Motorhog to another level. By combining the best of all our businesses we can offer a fantastic solution to our clients and customers, and in doing so, help do our bit for the environment.”

John Schofield , Founder and Managing Director of Car Transplants and Director of Synetiq, added: “This is a proud moment for me and the team at Car Transplants. We have built our reputation on compliance and excellent client service and to be able to take this forward as part of SYNETIQ means we can do even more”.

Dave Harcourt,  Founder and Managing Director of DH Systems and Director of Synetiq, said: “DH Systems was set up to provide IT services to the insurance, salvage and dismantling industry, so to become part of Synetiq and bring this knowledge and expertise to our clients as part of an integrated solution is really exciting”.

Jason Cross,  Managing Director of FAB Recycling said: “Having been part of the Motorhog Group since 2017 I have seen just how much investment and development has been made in the operation. The new Synetiq business has huge capacity and significant inventory to deploy and with the expected growth in Green Parts, makes us the natural choice for the industry.”

 

 

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