Acquisition of Pinewood South Africa Business
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FOR IMMEDIATE RELEASE
7 July 2025
Pinewood Technologies Group PLC
("Pinewood.AI" or the "Company")
Acquisition of Pinewood South Africa Business
Pinewood Technologies Group PLC, a leading pure-play cloud-based software business providing innovative retail solutions to the automotive industry, is pleased to announce it has entered into an agreement to acquire, via its wholly-owned South African subsidiary, certain key assets comprising of, amongst others, customer contracts relating to the software-as-a-service business offering known as the "Pinewood Dealer Management System" ("Business") from certain entities within the Motify Group (collectively referred to as "PWSA") for a total cash consideration of £2.5m, payable at completion. The transaction is expected to complete on 1 August 2025.
The proposed acquisition will enable Pinewood.AI to fully control its sales and customer service functions in its markets in Southern Africa and to drive continued growth in the region. Since 2009, PWSA has successfully expanded the Pinewood.AI system footprint across South Africa, Zimbabwe, Zambia, Botswana, Eswatini, Namibia and Mauritius, establishing approximately 300 dealer partnerships and 30+ OEM partnerships.
The transaction reflects Pinewood.AI's strategic focus on expanding its operations in its existing international markets of Southern Africa, Asia Pacific and Northern & Central Europe. On completion, Pinewood.AI will take on all of PWSA's customer contracts in the region in so far as it relates to the Business. This will include the transfer of a number of employees based in the region to ensure Pinewood.AI maintains the highest levels of service and support for its customers.
The transaction will deliver immediate commercial benefits and is expected to add approximately £0.5m to £0.7m in incremental annual EBITDA.
Bill Berman, Chief Executive Officer of Pinewood Technologies Group, said:
"We are thrilled to be bringing PWSA fully into the Pinewood.AI Group. This acquisition is consistent with our strategy to expand our global operations, and it will enhance our Go-to-Market capabilities and deepen our customer relationships in an important growth market. Our customer base in Southern Africa has grown across multiple franchise partners in recent years and this move reflects our confidence that we can drive further growth in the region in the years ahead. I would like to welcome our new associates to the business, and we look forward to supporting their efforts to further strengthen our presence in Southern Africa."
Enquiries:
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Headland Consultancy (PR & Communications) |
+44 (0) 20 3805 4822 |
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Henry Wallers |
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Jack Gault |
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About Pinewood Technologies Group PLC:
Established in 1981, Pinewood Technologies Group PLC (Pinewood.AI) is a leading cloud-based full-service technology provider to automotive retailers and OEMs. Pinewood.AI's system is a market-leading automotive intelligence platform, which has been developed collaboratively with dealers and OEMs to provide secure software across sales, aftersales, accounting and CRM. With headquarters located in the UK and North America, Pinewood.AI serves a global user base spanning over 20 countries and has long-standing partnerships with over 50 OEM brands.
Previously part of Pendragon PLC, in 2024 Pinewood.AI became an independent entity following the sale of Pendragon's UK Motor and Leasing divisions to Lithia Motors Inc, one of the largest automotive retailers in North America. In February 2025, Pinewood Technologies Group PLC acquired Seez, an automotive AI & ML SaaS platform. LON: PINE, OTCQX: PINWF
For more information, visit Pinewood.AI
Important Notices
This announcement has been prepared for the purpose of complying with the applicable law and regulation of the United Kingdom and information disclosed may not be the same as that which would have been disclosed if this announcement has been prepared in accordance with the laws and regulations of jurisdictions outside the United Kingdom.
No reliance may or should be placed by any person for any purpose whatsoever on the information contained in this announcement or on its completeness, accuracy or fairness. Recipients of this announcement should conduct their own investigation, evaluation and analysis of the business, data and property described in this announcement. This announcement does not constitute a recommendation concerning any investor's decision. The information in this announcement is subject to change.
This announcement contains forward-looking statements. These statements relate to the Pinewood.AI group's future prospects, developments and business strategies. Forward-looking statements are identified by their use of phrases such as "potential", "estimate", "expect", "may", "will", or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. No assurance can be given that this information will prove to be correct and such forward-looking statements should not be relied upon. These forward-looking statements speak only as at the date of this announcement.
No statement in this announcement is intended as a profit forecast or estimate for any period.
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