Press release regarding SYNETIQ

UK’S LARGEST VEHICLE DISMANTLERS MERGE TO CREATE MARKET-LEADER

 

Further to the announcement of merger discussions in May 2018 between the most progressive and successful salvage and dismantling companies in the UK, Motorhog, Car Transplants, FAB Recycling and DH Systems can today confirm a “game changing” merger is set to for the 1st March 2019 to create SYNETIQ, a market-leading service provider in the salvage, dismantling, green parts and support service arenas.

The newly-created SYNETIQ business combines over 150 years’ experience in this sector, bringing the very best of the 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 c100,000 vehicles in the last 12 months. SYNETIQ 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.

SYNETIQ and their clients will benefit from the significant investments each individual business has made over recent years in infrastructure, capacity, people and process – investment which has seen the Motorhog and Car Transplants businesses between them achieve ISO 9001, 14001 and 27001 in 2018. Additionally, by incorporating systems integration expert DH Systems, SYNETIQ can offer fully IT-integrated solutions to their clients, to create a bespoke solution.

Whilst the SYNETIQ name is new, the Board and wider team at SYNETIQ are well-known and respected industry figures who share the same principles, values and ambition. The focus on clients, customers, innovation, compliance and positive environmental impact will remain unchanged but be delivered even more effectively and efficiently as part of the combined SYNETIQ company.

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 said

“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.”

 

ENDS

NOTE TO EDITORS

Motorhog, Car Transplants, FAB Recycling and DH Systems have merged to create SYNETIQ. Each of the four businesses share the same values and commitment to clients, compliant processes, reputation, people and the environment. This, alongside the new businesses’ combined capability, scale and experience, makes SYNETIQ the platform for their ambitious drive to do even more for clients and the industry.

 

Press Contact: Tom Rumboll, TR Advisory

Tom.Rumboll@TRAdvisory.co.uk