Announcements
Benchmark International Successfully Facilitated The Transaction Between Serco Group And Bidvest Automotive Holdings (Pty) Ltd
November 7, 2024
Benchmark International is proud to announce the successful sale of Serco Group to Bidvest Automotive Holdings (Pty) Ltd. This transaction marks a significant milestone in the industry, showcasing the effective collaboration and strategic alignment between the two companies.
Founded in 1981 from humble beginnings as a family business, Serco Group has grown into one of South Africa's leading and most trusted manufacturers of insulated and dry freight truck bodies and trailers. Based in Durban, with branches in Johannesburg, Cape Town, and Gqeberha (PE), Serco is known for its quality, innovation, and customer service excellence. The company serves a wide range of customers, including transport and logistics firms, grocery retailers, and others involved in fast-moving consumer goods.
Bidvest Automotive Holdings, a subsidiary of the Bidvest Group Ltd, is one of South Africa's largest and most respected motor retailers, renowned for its focus on innovation and delivering exceptional customer experience. Operating 85 dealerships across South Africa and Namibia, Bidvest Automotive is a leader in mobility solutions and has a strong market presence in the auctioneering sector.
Carla Seppings, CEO of Bidvest Automotive, commented: “The acquisition of Serco is aligned to its strategy to diversify the division’s value proposition, add scale and contribute to the delivery of an end-to-end automotive offering in South Africa.”
Clinton Holcroft, CEO of Serco Group, shared: “With over four decades of experience, Serco has built a solid reputation for quality and innovation. We believe the recent acquisition by Bidvest provides an opportunity to further improve our service offering to customers and we have exciting plans to build on the legacy created so far and grow the business as we aim to take it to the next level.”
Anthony Monné, Associate Director at Benchmark International, reflected on the transaction: “Working with Clinton of Serco Group, alongside Bidvest Automotive and their respective advisors, has been a pleasure. The dedication and professionalism demonstrated by all parties were key to achieving a smooth and successful process. We are confident that Serco has found the ideal partner in Bidvest and are excited to see the business thrive under its new ownership. We extend our best wishes to both Serco and Bidvest as they embark on this promising new chapter."
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