Four firms merge to create £100m car salvage company based in Doncaster
Four companies in the car dismantling sector are set to merge to create a £100m business based in Doncaster.
Motorhog, Car Transplants, FAB Recycling and DH Systems will merge on March 1 to create SYNETIQ, the nation’s biggest dismantler and second largest salvage company.
The 400-strong firm will operate from 16 sites across the UK and offer dismantling, salvage, replacement parts and support services to customers including insurance firms , and national organisations running vehicle fleets.
In the past 12 months the four firms have between them processed 100,000 vehicles and sold more than 35,000, as well as 250,000 parts.
SYNETIQ bosses expect first year turnover to top £120m.
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.”
Motorhog started out as Doncaster Motor Spares in 1939 and grew into one of the UK’s leading dismantling and salvage specialists, with 180 employees at a dozen sites. In 2013 it secured £8 million backing from Lloyds Bank Commercial Banking in Sheffield.
The new firm aims to offer a ‘fully integrated’ IT system to clients.
Dave Harcourt, founder and managing director of DH Systems and SYNETIQ director 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”.
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”.