SYNETIQ
SYNETIQ is the UK's largest integrated vehicle salvage, dismantling, and recycling company, serving insurers, fleets, police, and repair shops with green parts, auctions, and end-of-life processing across 25 UK sites.
- Company typePrivate
- Founded2020
- HeadquartersDoncaster, United Kingdom
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
SYNETIQ firmographics
Firmographics- Name
- SYNETIQ
- Legal name
- LKQ SYNETIQ Limited
- Website
- https://synetiq.co.uk
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- SYNETIQ is the UK's largest integrated vehicle salvage, dismantling, and recycling company, serving insurers, fleets, police, and repair shops with green parts, auctions, and end-of-life processing across 25 UK sites.
- Ownership category
- akta.pro rank
SYNETIQ industry classification
Industry- Product category
- Vehicle Salvage, Dismantling and Recycling Services
- NAICS
- Materials Recovery Facilities (562920), Materials Recovery Facilities (56292), Automotive Repair and Maintenance (8111)
- SIC
- Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies (5010), Motor Vehicle Parts & Accessories (3714)
- akta.pro primary industry
- Salvage, Total Loss & Insurance Auction Services (TLABAKAH)
- akta.pro secondary industries
- Asset Recovery, Surplus & Decommissioning Services (EUAIANAD), Vehicle Remarketing, De-fleeting & Asset Disposal Services (THADAKAK), Automotive Parts & Mobility Recommerce (Parts, Accessories, Bikes/Scooters) (CRAFAGAI)
Keywords
Where SYNETIQ is headquartered
LocationHeadquarters
- HQ city
- Doncaster
- HQ country
- United Kingdom
- HQ region
- Europe
Offices6 records
Markets served
SYNETIQ business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Salvage Auctions: SYNETIQ runs IAA Salvage Auctions, an online auction platform for total loss and salvage vehicles, reaching a worldwide buyer audience. Insurance companies and fleet operators dispose of salvage vehicles through this channel.
- Green Parts Sales: Sale of quality-graded, recycled OE (Original Equipment) parts including engines, doors, headlamps, tailgates, stereos, and sat-navs. Parts are supplied to workshops, bodyshops, insurers, and directly to consumers via the SYNETIQ website. Pricing is competitive at up to 75% less than new RRP. Parts are supplied with warranties (3 months for mechanical/electrical, 12 months for non-mechanical/non-electrical).
- Vehicle Recycling: Processing end-of-life vehicles, recycling an average of 96.3% of each vehicle dismantled. SYNETIQ handles vehicle shells, metal recovery, and proper disposal compliantly, ensuring vehicles can never return to the road.
- Mechanical Solutions: Supply of mechanical repair services and solutions including engine and mechanical parts supply.
- Bespoke Business Solutions: Customised salvage handling, fleet management solutions, and compliance services for insurance clients, accident management companies, and fleet operators including the MyGreenFleet service for fleet maintenance parts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Green parts (used OEM parts) sold individually with tiered warranty |
| Transaction based/ take rate | Pay-as-you-go | Salvage auction access and buy-it-now parts purchasing |
| Other | Multi-year contract | Business solutions and bespoke contracts |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels9 records
SYNETIQ product offering
Product offeringCore offering
SYNETIQ is the UK's leading integrated vehicle salvage, dismantling and recycling company, processing end-of-life and total loss vehicles to recover quality-graded Green Parts (recycled OEM components), recyclable materials, and EV battery materials for resale and reuse. It serves insurers, accident management companies, fleet operators, police forces, body shops, remanufacturers and consumers through direct sales, the IAA online salvage auction platform, the mygreenparts digital platform, and the MyGreenFleet fleet service, operating from 25 sites across the UK.
Product overview
SYNETIQ is the UK's leading vehicle salvage, dismantling and recycling specialist, operating as a joint venture between LKQ Europe and IAA (an RB Global company). The business operates on an integrated circular economy model that maximises the value recovery from salvage and end-of-life vehicles. Its core product is Green Parts (quality-graded recycled OEM parts), which are distributed through multiple channels: directly via the mygreenparts digital platform for insurance and repair sectors; through the mygreenfleet service for corporate fleets; and via the IAA Salvage Auction platform. Supporting services include Sell My Car (consumer vehicle purchase), Engines, Stereos & Sat Navs, Wheels & Tyres, Salvage Solutions, Mechanical Solutions, and VRM Data. The business handles approximately 27,000 vehicles annually across four UK sites, recycling 96.3% of each vehicle and delivering 4.65 million kg of CO2 savings in 2023 through green parts supply.
Differentiator
Problem solved
Functional benefit
Products and services
- Green Parts SYNETIQ's primary offering of quality-graded, recycled OEM vehicle parts (doors, engines, headlamps, bumpers, tailgates, stereos, sat-navs) sold at up to 75% less than new RRP, supported by carbon labelling and warranties of 3 months for mechanical/electrical parts and 12 months for non-mechanical/non-electrical parts. Sold to workshops, bodyshops, insurers, fleets and consumers.
- mygreenparts Digital Platform Automated digital platform for the insurance and vehicle repair sectors that matches green parts to repair standards and insurance requirements, supporting sustainable vehicle repairs.
- MyGreenFleet
- IAA Salvage Auction
- Sell My Car
- Engines
- Stereos & Sat Navs
- Wheels & Tyres
- Salvage Solutions
- Mechanical Solutions
- VRM Data
- Major Incident Response
Quantifiable outcome
- 96.3% of every vehicle dismantled is recycled, surpassing EU legislative targets
- +12 more outcomes
Companies that use SYNETIQ
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles6 records
SYNETIQ technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature5 records
SYNETIQ partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- LKQ EuropecoreLKQ SYNETIQ is a joint venture between LKQ Europe and SYNETIQ Ltd (an IAA company), combining LKQ's extensive distribution network and aftermarket expertise with SYNETIQ's market-leading dismantling, reuse and remanufacturing capability. The joint venture aims to scale recycled OE parts delivery across Europe, with approximately 27,000 vehicles dismantled annually across four UK sites in 2024. Annick Jourdenais (from LKQ Euro Car Parts) serves as Managing Director alongside Michael Hill (COO).
- Allye EnergycoreSYNETIQ entered a strategic supply agreement with Allye Energy, a clean-tech innovator specialising in distributed energy storage at the grid edge. The collaboration focuses on repurposing end-of-life EV battery packs into MAX Battery Energy Storage Systems (BESS), cutting CO2 emissions by 60%. SYNETIQ supplies nearly new EV battery packs sourced through exclusive agreements with leading insurers and leasing providers.
- Cyclic MaterialscoreSYNETIQ partnered with Cyclic Materials, a Canada-based metals recycler, to recycle rare earth elements from end-of-life vehicle motors, including hybrid and electric vehicle motors. The collaboration involves processing motors at Cyclic's new plant in Kingston, Ontario, using proprietary hydrometallurgical technologies to support sustainable material recovery.
- AltiliumcoreSYNETIQ's partnership with Altilium enables the reclamation of over 95% of valuable battery materials such as lithium and nickel from end-of-life EV batteries, significantly lowering both costs and emissions. This collaboration supports SYNETIQ's position at the forefront of EV battery recycling and circular economy for the automotive industry.
- Sheffield Hallam UniversityminorSYNETIQ collaborated with automotive and mechanical engineering master's students at Sheffield Hallam University on a project to drive HGV fleet decarbonisation and reduce SYNETIQ's Scope 1 emissions. The project explored alternative and innovative solutions for the transport sector, working alongside SYNETIQ's fuel-efficient routing and driver behaviour capture initiatives.
- Doncaster CouncilminorSYNETIQ collaborated with Doncaster Council on tree planting initiatives, including planting 60 young trees in Skellow village as part of corporate volunteer days and the Woodland Trust's woodland creation project. Also collaborated with the Council during Carbon Literacy Action Day.
- Highland CarbonminorSYNETIQ works with Highland Carbon, specialists in carbon market solutions for climate action, to finance carbon projects in the UK (Corriegarth Estate afforestation near Loch Ness), Turkey (Sah wind power project), and India (Sheopur solar power project). These projects complement SYNETIQ's decarbonisation plans and are verified by the Woodland Carbon Code, Gold Standard, and UN Clean Development Mechanism respectively.
- esurecoreSYNETIQ signed a green parts contract with esure to supply quality graded, recycled parts to its repairer network. This partnership supports esure's sustainability targets and provides cost-effective parts for vehicle repairs.
- British GascoreSYNETIQ's MyGreenFleet service provides British Gas (with around 11,400 vehicles) with green parts supply to its repair partners (Hitachi and SOPP+SOPP) and compliant salvage vehicle handling. Over 1,200 doors and 6,500+ green parts supplied since 2012, saving over 120,000 kg of CO2.
- South Wales PolicecoreSouth Wales Police has used MyGreenFleet since 2017 as the mainstay of its maintenance strategy for over 1,200 vehicles. Green parts supply saves the force £45,000 per year and reduces vehicle downtime with next-day delivery of common items and 3-day turnaround for complex parts like engines.
- IAA, Inc. (now RB Global)coreSYNETIQ Ltd is an IAA company (IAA, Inc., now a subsidiary of RB Global, Inc. / Ritchie Bros. Auctioneers Incorporated). SYNETIQ was acquired by IAA and integrated into RB Global. The IAA Salvage Auction platform (auctions.iaai.co.uk) is used by SYNETIQ, and SYNETIQ's operations are part of IAA's UK operations.
Scale indicators11 records
Recent moves10 records
Expansion highlights4 records
SYNETIQ competitors and assessment
Company assessmentDirect peers
- Copart: Global online salvage and vehicle auction operator with a parallel model of acquiring total-loss vehicles from insurers and selling them to a worldwide buyer base, including a UK/Ireland presence. Highly comparable to SYNETIQ's IAA Salvage Auction channel and insurance-led salvage intake.
- Cyclic Materials: Canada-based hydrometallurgical recycler of rare earth elements from end-of-life motors, partnered with SYNETIQ for motor feedstock. Comparable as a circular-economy specialist layered on top of vehicle dismantling.
- Stellantis SUSTAINera: OEM remanufacturing/circular-economy programme that recovers and certifies used parts from end-of-life vehicles across Europe. Directly comparable to SYNETIQ's green-parts quality-graded, carbon-labelled offering to insurers and bodyshops.
Emerging players
- Allye Energy: Clean-tech firm repurposing second-life EV batteries into distributed BESS units, sourcing battery packs through SYNETIQ. Comparable as an emerging circular-economy participant fed by SYNETIQ's dismantling infrastructure.
- Renault Environment / The Future Is Neutral: OEM-backed circular-economy ecosystem (Renault/Verkor/BNP Paribas) for end-of-life vehicle materials and remanufactured parts. Comparable to SYNETIQ's insurer-fed green-parts and EV recycling strategy at an OEM-led level.
- Altilium: UK-based EV battery materials recycler reclaiming lithium, nickel and cobalt from end-of-life packs. Directly comparable to SYNETIQ's collaboration model that links salvage collection to materials recovery.
Broad incumbents
- LKQ Corporation: Global distributor of vehicle parts and SYNETIQ's JV partner via LKQ Europe. Operates the aftermarket parts channels that SYNETIQ's recycled OE parts now feed into, making it the natural incumbent comparator.
- IAA (Insurance Auto Auctions, an RB Global company): SYNETIQ's parent platform operator and the largest US salvage auction network. Overlaps directly with SYNETIQ's online auction business and underpins the cross-border buyer audience for total-loss vehicles.
Regional players
- DAS (Auto Recycling Nederland): Dutch vehicle dismantling and parts recycling network serving insurers and fleets across the Benelux. Comparable integrated salvage/dismantling model to SYNETIQ but operating on continental Europe rather than the UK.
Others
- Cat Recycling / Caterpillar Reman: Heavy-equipment remanufacturing reference benchmark for industrial circular-economy operations. Comparable as a useful analogue for the unit economics of dismantling-driven parts reuse, although not direct auto competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
SYNETIQ social profiles
Digital presenceSYNETIQ financial estimates
Financial estimateRevenue estimate
Valuation estimate
SYNETIQ leadership team
Management profileNumber of profiles
Profiles8 records
SYNETIQ subsidiaries and ownership
Company hierarchySubsidiaries1 record
SYNETIQ funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SYNETIQ M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SYNETIQ
What does SYNETIQ do?
SYNETIQ is the UK's leading integrated vehicle salvage, dismantling and recycling company, processing end-of-life and total loss vehicles to recover quality-graded Green Parts (recycled OEM components), recyclable materials, and EV battery materials for resale and reuse. It serves insurers, accident management companies, fleet operators, police forces, body shops, remanufacturers and consumers through direct sales, the IAA online salvage auction platform, the mygreenparts digital platform, and the MyGreenFleet fleet service, operating from 25 sites across the UK.
Is SYNETIQ a public or private company?
SYNETIQ is a private company. It is classified as corporate owned and is currently operating.
When was SYNETIQ founded?
SYNETIQ was founded in 2020. It employs 501 to 1,000 people.
Where is SYNETIQ based?
SYNETIQ is headquartered in Doncaster, United Kingdom, in the Europe region.
How does SYNETIQ make money?
Five revenue lines are on record. Salvage Auctions are the primary driver. The others are green Parts Sales, vehicle Recycling, mechanical Solutions and bespoke Business Solutions.
Who are SYNETIQ's main competitors?
Direct peers on record are Copart, Cyclic Materials and Stellantis SUSTAINera. Emerging players are Allye Energy, Renault Environment / The Future Is Neutral and Altilium. Broad incumbents are LKQ Corporation and IAA (Insurance Auto Auctions, an RB Global company). DAS (Auto Recycling Nederland) is listed as a regional player. Cat Recycling / Caterpillar Reman is listed as an others.
Does SYNETIQ have an API?
No public API is recorded for SYNETIQ.
What industry is SYNETIQ in?
SYNETIQ's product category is Vehicle Salvage, Dismantling and Recycling Services. Its primary akta.pro industry code is TLABAKAH, Salvage, Total Loss & Insurance Auction Services, with a secondary code of EUAIANAD, Asset Recovery, Surplus & Decommissioning Services. Its NAICS code is 562920 and its SIC code is 5010.