SYNETIQ

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

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

• Vehicle salvage services
• Recycled OEM parts
• End-of-life vehicle recycling
• Green parts supply
• Salvage auction platform

Headquarters

HQ city

Doncaster

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. 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.
2. 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).
3. 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.
4. Mechanical Solutions: Supply of mechanical repair services and solutions including engine and mechanical parts supply.
5. 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

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core 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

Named customers9 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• LKQ EuropecoreStrategic or Co-development Partner · 1 December 2025LKQ 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 EnergycoreStrategic or Co-development Partner · 1 December 2024SYNETIQ 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 MaterialscoreStrategic or Co-development Partner · 3 September 2024SYNETIQ 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.
• AltiliumcoreStrategic or Co-development PartnerSYNETIQ'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 UniversityminorStrategic or Co-development PartnerSYNETIQ 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 CouncilminorStrategic or Co-development PartnerSYNETIQ 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 CarbonminorOthersSYNETIQ 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.
• esurecoreChannel Partner/ Reseller/ DistributorSYNETIQ 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 GascoreChannel Partner/ Reseller/ DistributorSYNETIQ'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 PolicecoreChannel Partner/ Reseller/ DistributorSouth 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)coreOthersSYNETIQ 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

Direct 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

• YouTubeyoutube.com/channel/UCDCdsX6G-f8PLUz3r45dm8Q
• Facebookfacebook.com/synetiqltd
• LinkedInlinkedin.com/company/synetiq-limited
• Instagraminstagram.com/synetiqltd
• TikToktiktok.com/@synetiq
• Xx.com/synetiqltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SYNETIQ