Autocirc has entered into an agreement to acquire SVP Auto (S.V.P.-AUTO SOCIEDADE DE VENDA DE PEÇAS LDA) in Portugal. The completion of the acquisition is expected to take place during July 2024.
Autocirc is pleased to announce its strategic agreement to acquire SVP Auto (S.V.P.-AUTO SOCIEDADE DE VENDA DE PEÇAS LDA), marking its official entry into the Portuguese market.
SVP Auto is a well-established company in Portugal, specialized in vehicle dismantling, recycling and second-hand trading. The company has been dismantling vehicles and recovering car parts since 1987. Over the years, other areas of expertise have been added, such as the creation of workshops and the sale of salvage vehicles. SVP Auto has also been accredited as an operator for the management of used vehicle batteries. The company is located in Coimbra and Picoto and the agreement to join Autocirc includes both sites. SVP Auto has a dedicated team of 29 employees.
The acquisition of SVP Auto not only broadens Autocirc’s geographical reach but also aligns with the company’s long-term commitment to offering a more sustainable alternative to newly produced vehicle parts throughout Europe.
Petteri Saarinen, CEO of Autocirc says:
We are delighted to welcome SVP Auto into the Autocirc family. Their strong reputation and expertise in vehicle dismantling and second-hand trading of quality-assured automotive parts are a perfect fit with Autocirc’s strategic goals. It will enable Autocirc to enhance even further our product and service offerings, promoting a circular and sustainable auto parts industry across Europe.
Ricardo Geraldo, will be the future Managing Director of SVP Auto in Coimbra and Picoto.
Becoming part of Autocirc is a very exciting development for SVP Auto. We look forward to combining our strengths together with the Autocirc group of companies and bringing our expertise and knowledge to a larger audience. This marks a significant step on our growth journey but it also enables us to move closer to our shared vision of sustainability in the auto parts industry, Ricardo Geraldo says.
Maxime Richaud, CEO Autocirc France concludes:
We are very pleased that SVP Auto is joining us. The use of reused parts is deeply ingrained in Portuguese culture, and we are delighted to enter this highly promising market, contributing to a strong circular economy and offering remarkable quality parts. Strong synergies will be established between Portugal and the main countries where the Autocirc group is present and particularly the French market which is so close.
For more information, please contact:
Maxime Richaud, CEO Autocirc France
+33 (0)6 32 59 58 92
maxime.richaud@autocirc.com
Ricardo Geraldo, Managing Director SVP Auto
+35 191 308 5980
ricardo.geraldo@svpauto.com
