M&A Deal Summary

Cazoo Acquires SMH Fleet Solutions

On September 15, 2021, Cazoo acquired transportation company SMH Fleet Solutions from Lloyds TSB Development Capital for 70M GBP

Acquisition Highlights
  • This is Cazoo’s 1st transaction in the Transportation sector.
  • This is Cazoo’s largest (disclosed) transaction.
  • This is Cazoo’s 3rd transaction in the United Kingdom.

M&A Deal Summary
Date 2021-09-15
Target SMH Fleet Solutions
Sector Transportation
Buyer(s) Cazoo
Sellers(s) Lloyds TSB Development Capital
Deal Type Add-on Acquisition
Deal Value 70M GBP
Advisor(s) Rothschild Global Advisory (Financial)

Target

SMH Fleet Solutions

Worcester, United Kingdom
SMH Fleet Solutions is a provider of fleet management services including delivery, preparation, refurbishment, and remarketing of vehicles to a broad range of blue chip automotive manufacturers, rental and leasing specialists. SMH Fleet Solutions was founded in 2003 and is based in Worcester, United Kingdom.

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Buyer(S) 1

Buyer

Cazoo

London, United Kingdom
Category Company
Founded 2018
Sector Automotive
Employees3,266
Revenue 1.2B GBP (2022)
DESCRIPTION

Cazoo is a provider and owns and fully reconditions all its cars before offering them for sale and delivering them free to customer’s doors in a convenient two-hour delivery slot. Every Cazoo car comes with a 7-day money-back guarantee, free comprehensive 90-day warranty, and roadside assistance. Buyers can purchase or finance one of the thousands of Cazoo cars entirely online as well as get an instant offer for any part exchange. Cazoo was founded in 2018 and is based in London, England.

DEAL STATS #
Overall 4 of 6
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 4 of 6
Country (United Kingdom) 3 of 3
Year (2021) 3 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 Cazana

London, United Kingdom

Cazana provides automotive insights for the future of vehicle ownership. Using big data and predictive analytics, Cazana analyses millions of automotive transactions daily to assess the value and risk associated with every vehicle on the road. Cazana was founded in 2012 and is based in London, England.

Buy £25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Swipcar

Barcelona, Spain

Swipcar provides a car lease solution that contributes to the digitalization of the automotive sector. An online car marketplace that enables individuals and companies to easily lease a car with a flexible plan of mileage & time. The company offers a wide range of vehicles (from several providers) through their webpage in Spain, Italy and Portugal all with a worry-free service already included in the monthly installment. Swipcar was founded in 2018 and is based in Barcelona, Spain.

Buy €30M

Seller(S) 1

SELLER

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.

DEAL STATS #
Overall 173 of 198
Sector (Transportation) 5 of 5
Type (Add-on Acquisition) 83 of 94
Country (United Kingdom) 167 of 192
Year (2021) 12 of 16
Size (of disclosed) 31 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 Wifinity

London, United Kingdom

Wifinity specialises in providing reliable, high-speed broadband to customers on campuses and other multi-dwelling sites, such as student and key worker accommodation and holiday parks. Wifinity was founded in 2007 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 Aker

Bicester, United Kingdom

Aker designs, builds, and operates ultra-secure public cloud data environments for large private and public sector clients. Its delivery model integrates architecture blueprints, proven cloud technology, pre-built code components and finely honed professional services. Companies proprietary technology solutions drive performance and reduce cost while helping its clients to improve the management and sharing of data across their organizations. Aker was founded in 2016 and is based in Bicester, United Kingdom.

Sell -
Mergr

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