AMA Group summarised its investor presentation about the acquisition below. Click here to download the full AMA investor presentation.

AMA believes that there is a strong strategic rationale for the Transaction: 

  • -  Strong strategic fit with AMA's existing Vehicle Panel Repair division
  • -  AMA's long standing relationship with Suncorp is further strengthened via the long term strategic service agreement between Capital S.M.A.R.T and Suncorp
  • -  Significant value creation from the combination with approximately $17m of annual cost saving opportunities to be realised through AMA’s market leading procurement capabilities 
  • -  Combined market share of metropolitan driveable repair market estimated at 10% ensuring significant opportunity for future growth
  • -  Experienced high quality Capital S.M.A.R.T management team to remain in place post transaction to ensure seamless customer experience and realisation of combination benefits; and
  • -  Attractive shareholder value with double-digit EPS accretion expected in the first full year of ownership (FY21).

AMA expects annual synergies of approximately $17 million per annum which are expected to be fully implemented by the end of FY21. One-off synergy implementation costs are estimated to be approximately $15 million.

AMA CEO Andy Hopkins said, "The acquisition of Capital S.M.A.R.T represents a strategically compelling and highly attractive opportunity for our customers and shareholders. We are excited to combine Capital S.M.A.R.T's best-in-class capabilities in low to medium severity panel repairs with AMA's industry leading platform across the smash repair market. The Acquisition further strengthens our long standing close relationship with Suncorp which, in addition to committing to a 25.5 year service agreement with Capital S.M.A.R.T, is joining us as a partner in the business." 

"The Acquisition will provide the opportunity for shareholders to benefit from significant EPS accretion and the creation of an industry leading platform to pursue further growth."
"We are looking forward to welcoming the impressive team at Capital S.M.A.R.T into AMA. Through the transaction process we have had the opportunity to spend considerable time with senior management as well as meet some of the highly capable operational team members. It was clear during this process that there is a very strong cultural alignment between Capital S.M.A.R.T and AMA. We believe that the combined AMA/Capital S.M.A.R.T group will open significant career opportunities for team members in both organisations." 

Suncorp CEO Steve Johnston said, "We look forward to working closely with AMA as an ongoing partner, and to maintaining a high level of service to Suncorp’s customers. This agreement builds on our long-standing relationship with AMA.”  




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