Capital S.M.A.R.T announces today an important long-term partnership with AMA Group.
Suncorp has signed a binding agreement to sell 90% of its interest in Capital S.M.A.R.T to AMA, a leader in the automotive aftercare market.
S.M.A.R.T will continue to be an important strategic partner for Suncorp, and Suncorp will continue to have a 10% interest in the business and a seat on the board.
Capital S.M.A.R.T CEO, David Marino, said that the transaction was a significant development in the evolution of the business.
“I’m proud of the milestones that we’ve achieved as a team, and the partnership with AMA provides a great opportunity to take our business to the next level. AMA is a strong strategic partner for S.M.A.R.T due to its deep knowledge of the smash repair industry, exciting new innovation and a proven ability to respond to the changing industry dynamics. Importantly, AMA’s focus on customer service is closely aligned to our own ethos at S.M.A.R.T.”
The transaction is expected to complete by 31 October 2019.