SMD is proud to announce that the leading global brands distributor, Barloworld South Africa (Pty) Ltd has recently attained full ownership of Salvage Management and Disposals (Pty) Ltd (SMD), the country’s largest salvage operator.
The Barloworld Group acquired a 52% shareholding in SMD on the 1st of May 2016 and by doing so, became the controlling shareholder of SMD.
Being a part of Barloworld has thus far been a great journey for us. During this time, our organization has hugely benefitted from Barloworld structures and initiatives including programs and plans on governance, compliance and empowerment says Jan van Wyk, SMD Chief Executive. It is therefore quite exciting for us to announce that Barloworld has now acquired the remaining 48% shareholding, making SMD a wholly owned Barloworld subsidiary.
We are also very proud of the fact that the acquisition means that SMD, through the efforts of Barloworld’s transformation programs, is now a 54% black owned company.
Our ability to leverage from synergies within the group, economies of scale, corporate structures, vast experience in the automotive space, access to resources and the progressive nature of the organization will be invaluable to all our stakeholders, and certainly, even more so to our suppliers and partners in salvage.
SMD was established November 1999 and has grown into South Africa’s largest premier end-to-end salvage operator, with over 350 employees.
Trusted by multiple short-term insurance companies, brokers, banks and private companies, SMD has strong relationships with their clients and continue to be at the forefront of innovation for the industry.
Jan Van Wyk further states that management is extremely proud of this achievement and we are committed and excited about SMD’s future as a wholly owned Barloworld company.