Cazoo has acquired independent vehicle reconditioning and storage specialists, Smart Fleet Solutions (SFS), for an undisclosed sum.

The online car retailer says that the combination of its consumer platform and brand with SFS’s infrastructure and expertise will allow both businesses to further scale their national reconditioning and storage capabilities in line with their growth plans.

SFS has a team of more than 500 staff operating from four vehicle refurbishment facilities across 110 acres in Nottinghamshire, Staffordshire, Wiltshire and Scotland, processing in excess of 100,000 vehicles annually, with storage for more than 20,000 vehicles.

Alex Chesterman, founder and CEO of Cazoo, said: “We are excited to have acquired SFS given its infrastructure and vehicle processing capacity as well as its dedicated team of over 500 vehicle preparation experts.

“It will remain a standalone business run by Theo (Kortland) and his team and we look forward to working with them and to investing in continuing to serve its customers and growing the SFS business further.”

The deal follows the recent acquisition by Cazoo of Drover, a car subscription platform which will enable Cazoo to offer its customers the option of purchasing, financing or subscribing to the cars on its website.

Cazoo owns and fully reconditions all its cars before offering them on its website. Delivery or collection can be organised within 72 hours and each car comes with a seven-day money back guarantee and a 90-day warranty.

The car retailer launched just over a year ago and has already delivered more than 15,000 cars to consumers across the UK.

Theo Kortland, managing director of Smart Fleet Solutions (SFS), said: “Our focus on innovation and efficiency has enabled us to win and retain a number of key customers over the years and we are delighted to be joining forces with the Cazoo team.

“They have a clear vision and strategy for our business and are fully committed to making the investments required to continue to serve our existing customers and to further grow and develop the SFS business over the coming years.”

A BHP Corporate Finance team led by Hamish Morrison and Will Holmes advised the shareholders of SFS.  Hamish Morrison said: “Having worked with the shareholders for a number of years, we are delighted to have helped them on this recent divestment to Cazoo.”

Legal advisors to SFS were Schofield Sweeney, led by Martin Sweeney and Shaheeda Akhtar on corporate and Rob Hayes and Catherine Rhodes on property aspects.

Taxation advice to SFS was provided by Steve Brown, Louise Cowell and Adam Gough from RSM.