KPMG Cambridge advises on Volvo CE divestment
Volvo Construction Equipment Great Britain and its headquarters in Duxford is changing ownership.
KPMG’s deals team in Cambridge – led by Chris Wilson – advised Volvo on the deal, for which no figures are being released. The business has been divested to long-term Volvo distribution partner SMY.
Chris Wilson (pictured) said: “KPMG’s Deal Advisory team is delighted to have supported Volvo on this transaction, and wishes both parties every success for the future growth of the business.
“This transaction highlights the quality of our Cambridgeshire businesses and illustrates the appetite for strategic acquisition and investment in the region.”
The deal is expected to complete by the end of August following employee consultations.
The sale includes the distribution rights for Volvo-branded construction equipment machines, parts and after-sales 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 will remain in place.
Part of the SDA Holding group, SMT had revenues in 2016 in excess of €350 million.