SMH Fleet Solutions
Vehicle management, logistics, and refurbishment services.
| GBP | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 19 % | 16 % | 4 % | 3 % | (17 %) | (3 %) | (41 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 12 % | 10 % | 9 % | 6 % | (1 %) | (27 %) | (116 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 9 % | 7 % | 7 % | 4 % | (4 %) | (31 %) | (122 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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SMH Fleet Solutions is a UK-based provider of vehicle support services for the automotive industry. Established in 2003, the company offers a comprehensive range of services including vehicle logistics, inspection, preparation, refurbishment, remarketing, and secure storage. Its clients are primarily blue-chip automotive manufacturers and vehicle rental and leasing companies.
The company's business model focuses on managing the entire vehicle lifecycle, from new car preparation and handling large-scale vehicle movements to de-fleeting and refurbishment for resale to maximize value. SMH operates from multiple sites across the UK, including locations in Worcester, Bedford, Gloucester, and St Helens, which feature advanced workshops and significant storage capacity. At the time of its acquisition, it processed over 70,000 vehicle refurbishments and 150,000 vehicle movements annually with a team of over 500 employees.
In September 2021, SMH Fleet Solutions was acquired by the online car retailer Cazoo for approximately £70 million. This acquisition was a strategic move by Cazoo to significantly increase its in-house vehicle reconditioning, logistics, and storage capabilities to support its rapid growth. Before the acquisition, in 2018, private equity firm LDC had partnered with SMH to invest in technology to improve operational efficiency. Tim Hudson was the CEO of SMH at the time of the sale to Cazoo.
Keywords: vehicle management, fleet services, vehicle logistics, automotive refurbishment, car remarketing, de-fleeting, vehicle inspection, car auctions, vehicle storage, fleet management, automotive services, vehicle preparation, transport management, vehicle delivery, bodyshop, MOT testing, vehicle movements, wholesale platform, reconditioning, demonstrator programmes