Cazoo acquires Smart Fleet Solutions
Online car retailer Cazoo is continuing on the acquisition trail with news that it’s bought Smart Fleet Solutions (SFS).
Hot on the heels of Cazoo’s acquisition of the Drover subscription platform, the new deal with vehicle recon and storage specialist SFS will continue Cazoo’s plans to transform the car buying experience in the UK.
SFS, which has been acquired for an undisclosed sum, will remain a standalone business with plans for growth, drawing on Cazoo’s platform and brand.
Cazoo in turn will be able to make use of Smart Fleet Solutions’ infrastructure and expertise.
Cazoo owns and fully reconditions all its cars before offering them on its website, and the deal will enable both firms to scale their national reconditioning and storage capabilities.
SFS operates from four sites across 110 acres in the South West, Midlands and Scotland. It has a dedicated team of over 500 experts processing more than 100,000 cars a year.
Alex Chesterman, founder and CEO of Cazoo, said: “We are excited to have acquired SFS given its infrastructure and vehicle processing capacity as well as its dedicated team of over 500 vehicle preparation experts. It will remain a standalone business run by Theo and his team and we look forward to working with them and to investing in continuing to serve its customers and growing the SFS business further.”
Theo Kortland, managing director of Smart Fleet Solutions, said: “Our focus on innovation and efficiency has enabled us to win and retain a number of key customers over the years and we are delighted to be joining forces with the Cazoo team. They have a clear vision and strategy for our business and are fully committed to making the investments required to continue to serve our existing customers and to further grow and develop the SFS business over the coming years.”