ELITE is LSEG’s international business support and
capital raising ecosystem for ambitious and high growth companies
Over 150 UK companies make up the 1000 strong international
ELITE community of companies, in addition to advisers and investors
SYNETIQ is the largest UK owned salvage and vehicle
recycling company creating solutions for some of the countries’ leading Insurers, company fleets and police forces.
SYNETIQ Ltd today joins London Stock Exchange Group’s
international business support and capital raising ecosystem, ELITE.
Executive Chairman of SYNETIQ:
“We have a vision to create a vehicle recycling industry
that we can all be proud of. We feel excited and privileged to be working with
Elite to work towards the next phase in our business growth.”
Akram, Head of ELITE UK, London Stock Exchange:
“I’m excited to present the latest UK company to join
ELITE, a clear demonstration of the country’s ability to grow great businesses.
These companies drive innovation, employment, and create opportunities for us
“ELITE is committed to giving the British business stars
of the future the very best chance to succeed, providing them with access to
appropriate expertise and capital. It is a unique, strong community of the best
and most dynamic entrepreneurs, advisers, investors and business school
academics from the UK, Europe and around the world.”
NOTES TO EDITOR
ELITE is a full-service programme designed to help
ambitious companies prepare and structure for the next stage of growth through
the access to long term financing opportunities. It is a unique offering for
scale-ups across Europe and beyond, providing a comprehensive training
programme and extensive access to the business and financial community. The ELITE Funding platform, launched in 2017,
will also help streamline the capital raising process for ELITE companies.
For further information ELITE, the companies and the full
list of partners, please go to: www.elite-network.com
SYNETIQ Ltd was created
and launched on the 1st March 2019.
As the largest UK owned
salvage and vehicle recycling company SYNETIQ create intelligent solutions for
some of the countries’ leading Insurers, company fleets and police forces. SYNETIQ are trusted to process vehicles
through auctions, green parts sales, and recycling processes.
The company was formed
following the successful merger of Car Transplants, Motorhog, FAB Recycling and
DH Systems. Headquartered in Doncaster SYNETIQ now has 507 employees spread
across sites nationwide.
SYNETIQ was proud to host a training day
for the British Automobile Racing Club North West Rescue team on Sunday.
BARC NW Rescue is a technical rescue unit
which supports major racing events, including Formula 1, British Touring Car
Championship and a wealth of BARC events throughout the season. SYNETIQ donated
vehicles and organised a staged collision, on site at SYNETIQ Winsford.
The day was an opportunity for the team to
practice rapid extraction methods. To make the training seem even more
realistic, each exercise was done against the clock…
It’s vital that BARC NW Rescue has
regular practice, to perfect methods and tool skills, and ensure the team are
fully prepared in the event of a real emergency. Sunday was also an opportunity
to get to grips with a new incline cutter tool, which will improve capabilities
SYNETIQ’s relationship with BARC NW Rescue
can be traced back to Car Transplants Ltd, which previously hosted training
days before becoming part of SYNETIQ in March 2019. SYNETIQ was delighted to continue
this relationship and is looking forward to welcoming the team back soon.
SYNETIQ’s senior management expansion continued last week with
James Brown appointed as Head of Transport.
the Doncaster operation, James’ role as Head of Transport will cover both collection
and delivery activity where he will support the growth of SYNETIQ’s Green Parts
excellent and relevant experience in the field of transport and logistics
having held senior roles with Amazon, DFS, Andrew Page and the United Nations,
and will be a great addition to the SYNETIQ team.
SYNETIQ customers now
benefit from an even more secure payment process, using the multi-award winning,
cloud-based SOTpay technology – making payments easier and more secure and
fully PCI DSS compliant.
SYNETIQ customers will
benefit from an extra layer of protection; the use of SOTpay means sensitive
card data never handled by our employees, protecting our customer’s data and
retailer reputation. The new system also means secure payments can be made
through any channel, including SMS, email, social media and web link. There’s
no longer any need for customers to give out card details over the phone.
security and traceability of payments has always been high on SYNETIQs agenda.
The business made headlines earlier this year when it announced a no cash payments
for salvage; a policy that was lauded by Police forces across the UK. Embracing
SOTpay is SYNETIQs next step to protect clients and customers against fraud.
Trade sales can be a fantastic route to a great value vehicle… SYNETIQ’s Police Auction is exactly that. Log on to the site and you’ll find hundreds of vehicles live on the site, with the virtual hammer prices at a fraction of what you’d expect to pay.
How does it work?
SYNETIQ is the UKs largest
salvage and dismantling company. It has contracts with many insurance and fleet
companies, as well as many UK Police Forces – this is where Police auction
items come from.
The Police auction was relaunched
last week on a new dedicated platform in tandem with SYNETIQs main salvage
auction, which has thousands of vehicles listed six days a week.
How much does it cost
Unlike SYNETIQs main
auction, registration for the Police auction is free. Once you’ve registered,
you’ll need to upload proof of identification before you can bid. This ID must
be approved by a member of SYNETIQs team, so leave plenty of time for this if you’re
keen to bid on a vehicle.
First Responders at North
West Ambulance Service are being kept on the road thanks to donations from
vehicle salvage and dismantling business SYNETIQ.
The First Responders team
is Gavin Palin and Max Kelly, who work on behalf of the NHS and North West
Ambulance Trust. Both are volunteers who give up their spare time to help those
in need of urgent assistance, relying on donations in order to operate.
The team are first on the
scene for a wide range of emergencies, providing swift medical attention until a
full-size ambulance arrives. The gap they fill is vital – in some cases it can
be the difference between life and death.
SYNETIQs Nantwich and Winsford
teams have had a relationship with First Responders for over 7 years. In
addition to providing two vehicles for the team, SYNETIQ keeps the First
Responders on the road by providing free fuel, servicing and maintenance.
The relationship between
SYNETIQ and North West Ambulance Service can be traced back to Car Transplants
Ltd – one of the businesses which merged to form SYNETIQ earlier this year. The
business was delighted to continue supporting the First Responders and remains on
hand to provide fuel and maintenance for their vehicles.
John Schofield, Executive
Director at SYNETIQ: “We recognise how important Gavin and Max’s roles are within
our community. We’re pleased to continue supporting them in any way we can.”
You can hear more about Gavin and Max’s work in this video:
SYNETIQ Ltd has been named as one of the most ambitious, innovative and
disruptive companies as part of ELITE’s Future Shapers Report.
The Future Shapers campaign recognises the most
consistently impressive, diverse and growing businesses. SYNETIQ is
one of just 25 UK companies recognised and is delighted to have been chosen for
its innovation and leadership within its industry.
Since SYNETIQ was born in March 2019, following the
merger of Motorhog, Car Transplants, DH Systems and FAB Recycling, the business
has been hard at work developing its offering to customers and clients. Recent
developments include a brand-new vehicle auction platform, utilised by many
other salvage agents across the UK. SYNETIQ broadened its client offering even
further in October, with the acquisition of fleet management and parts
specialist Motorman Ltd. New senior-level roles have also been created recently,
including a new Finance Director and Head of Safety, Health & Environment.
Tom Rumboll, Chairman, SYNETIQ:
“We’re honoured to be included in ELITE’s Future Shapers
Programme. Our innovation throughout 2019 is just the beginning and I’d like to
thank our colleagues for their part in making it possible.”
Luca Peyrano, CEO, ELITE:
“We are delighted to launch our ELITE Future
Shapers Report. We have featured 50 organisations from our 1,300+ ELITE global community. We
have shone a spotlight on stories of disruption, expansion and growth.
Through the success
stories that fill the pages of our report we can be inspired by ELITE
businesses and understand how best to address their challenges in building
resilient businesses for the long term.”
You can read the full article on pages 50 and 51 of The Future Shapers Report.
SYNETIQ has premiered its
new company video, filmed over a few weeks at many of SYNETIQs sites across the
UK. The opening scene features Dave Harcourt, John Schofield and Richard
Martin; key players in the 2019 merger which formed SYNETIQ.
The video showcases many
of the services offered by the company – from the salvage auction to green
parts and inhouse IT services.
Production was managed in
house, with SYNETIQ’s Content Manager Jack Constantine working closely with VR
Med Ltd from concept to completion.
Monday 18th November will see the launch
of a brand-new auction platform – built by SYNETIQ and utilised by many of the
UK’s leading salvage agents.
SYNETIQ’s new auction succeeds the current SalvageMarket version, which
has been in use for the last nine years. Although user subscription fees remain
unchanged, the look, feel and capabilities will be completely transformed.
Users can now see more information than ever when viewing items, thanks to the
Specification Data feature. From engine power to optional extras, this
information can be vital for users when making an informed decision while
Proof of identification can now be uploaded via an online portal,
replacing the outdated manual process currently in place. This new process is
also more secure, helping agents to remain GDPR compliant.
Another new feature
is Bundle vehicles; these items are split into segments. Users can simply bid
on the vehicle sections they require, such as engine & gearbox or seats
& door cards.
Why change platforms?
The current site runs on older technology which is no longer
supported. SYNETIQs development team
have written a brand-new auction from the ground up using the very latest in
cloud technology. The new site is designed to scale up with demand, breaking
away from the limitations of the current site.
The auction has been
designed and built in-house by SYNETIQs sixteen-strong team of developers,
based in Edinburgh. The team will be managing the switchover, following over 12
months of development and testing. Some disruption may be noticed by users and
sellers during the switchover; this will be managed by SYNETIQ and kept to a
SYNETIQ has worked
closely with many agents ahead of the switchover, providing extensive training
and Q&A sessions; initial feedback has been positive. The launch date is
just the beginning – developments and improvements will continue throughout
Mark has held Compliance and Health & Safety
roles in the Steel and Food Manufacturing industry for the last 15 years,
having also previously served as an Aircraft Technician in the RAF.
Mark will manage all aspects of compliance,
ensuring SYNETIQ continues to meet internal policies and procedures, while retaining
external accreditations such as ISO 9001, 14001 and 27001. Mark will lead the
S.H.E team, also supporting SYNETIQs wider workforce of 500 colleagues.
SYNETIQ is already leading vehicle recycling industry
through compliant ways of working. Processes are already in place to protect personal
data; salvage vehicles go through a GDPR process, during which sat nav data is
wiped and any personal items are collected and returned to the policy holder.
SYNETIQ the UKs largest
salvage and vehicle recycling company have acquired St Albans-based Motorman
is the UKs leading independent remanufactured parts supplier and repair partner
to the fleet industry. Established over 50 years ago by Tony Zalkin, the
business has built a reputation for its expertise and service, especially with
engines, transmissions and drive train products.
is an attractive strategic fit with SYNETIQ due to
its 50-year trading history, long-standing, blue chip client relationships in a
key market for SYNETIQ. The timing was right as both Tony and
his wife Marion were looking to take full retirement and sell the business. and
the acquisition helps build SYNETIQs offering to the UK’s fleet market.
the loyal Motorman team have been retained and will continue to be led by Brian
Cafferty, Sales Director. The business will be integrated into the SYNETIQ
business quickly, and our priorities are to ensure a smooth transition for
clients, suppliers, and colleagues.
Zalkin of Motorman said “I am proud of the business that Marion, myself and
our dedicated team have built over the years, but the timing is right to enjoy our
retirement. I know that our legacy is in good hands with both Brian and the
SYNETIQ business; I also know they will ensure that the reputation we have
built for quality and customer services will carry on after the handover. They
will also make sure our long serving; loyal team are very well looked after.”
Rumboll, Executive Chairman at SYNETIQ said SYNETIQ was created to build the
UK’s best and most innovative provider of solutions to the parts, salvage and
fleet market. The acquisition of Motorman is another step in enhancing our
market-leading proposition and will allow us to unlock real synergies for the
benefit of our clients, customers and colleagues. Once we met Tony, Marion and
the team, this was the obvious choice for the first of several strategic
acquisitions for SYNETIQ, as we focus on implementing our strategy for growth.
We wish both of them all the best in their retirement and look forward to
welcoming Brian and the team into the SYNETIQ family”.