TVS Rico announced their latest acquisition in the UK which now adds repair and parts supply to the company’s comprehensive list of end to end supply chain services for its customers worldwide.
TVS Rico acquired more than 60% stake in SPC International, an Uxbridge UK based company with an annual turnover of INR 165 crores. The total investment by TVS Logistics for this acquisition and funding its future growth will be in excess of INR 100 crores. TVS Rico, whose previous acquisitions include well-known UK brands like DHL Same-Day and Circle Express is a flagship company of TVS Logistics in the UK. It operates in Australia, India and more than 19 countries in Europe with 45 locations in the UK and Ireland and offers spares management, transport, warehousing, and engineering solutions to its broad range of customers.
SPC International has operations in UK, France, Slovakia, USA and India; and provides employment to 350 skilled professionals across these geographies. It offers hardware support with specialisation in IT spares and repairs, supporting OEM and multi-vendor maintenance companies. SPC’s services and solutions include repair and refurbishment, remarketing, reselling, warranty management and inventory management (consigned and owned). Product offered include retail, banking, barcode and data collection, PCs, printers, and notebooks.
Sam Sharma, CEO TVS Rico, said “There are real synergistic growth opportunities between our two businesses, which are key to our strategic plans for both Europe and the rest of the world. We are thrilled to have acquired one of the leading players in this sector.” TVS Logistics which set up base in the UK in 2004 has invested around INR 617 crores over the last decade and has also generated employment opportunities for the local talent in the field of supply chain management. From initially employing 10 persons in 2004, TVS Logistics now provides employment to over 3500 people in the UK and in Europe and is one of the largest Indian employers in Northern England. The company aims to add another 550 jobs without including acquisitions as it expands its business in the next five years.
TVS Logistics’ MD, Mr. R Dinesh, who was last week recognised by EY as the Entrepreneur of the Year (Service) added, “We started acquiring companies globally in search of knowledge, technology, innovations, and global best practices, and we continue to deliver best in class logistics services in developed economies like the UK and the US. These are the capabilities which we now offer to our customers in India and Asia as well. SPC’s unique know-how can help us enhance our integrated services for our customers’ value chain”.
John Hemphill, CEO SPC, said, “We are excited to be working with TVS Rico and I believe that it is an excellent strategic fit. The acquisition will provide SPC with an opportunity to present a more complete suite of services for our local and global customers and strengthen TVS Rico SPC Group’s already diverse, end to end solutions in supply chain”. John and his management team will continue to run the business to develop further opportunities. “We are pleased to announce that the current staff levels will remain unchanged during this transition and all employees are being retained”, he added.
About TVS Logistics:
TVS Logistics Services Ltd (TVS LSL) established in 2004, is a flagship company of the $7 billion TVS Group, providing integrated supply chain solutions across the world directly and/or through joint ventures and subsidiaries. The company established in 2004, has grown exponentially organically and inorganically to a turnover of more than $1 bn in 2016. Head quartered in India and with offices also in 13 other nations – USA, UK, Germany, Singapore, Thailand, China, Spain, Australia, New Zealand, Mexico, Italy, France, and Hong Kong; TVS Logistics serves customers in over 50 countries through its 15000 plus skilled work force. TVS Logistics’ services include sourcing and distribution, contract logistics, warehousing, transportation, freight forwarding, packaging design and solutions, in-plant and aftermarket solutions, material handling, material management, free trade warehousing, infrastructure solutions, ecommerce logistics and technology logistics. As a one stop solution for end to end services, TVS Logistics works with multiple industries including automotive, distribution, electronics, discrete component manufacturing, engineering, retail and FMCG. In India, TVS Logistics is one of the largest integrated logistics service providers operating more than 10 million square feet area of warehousing space across 29 states. Backed by robust technology for transportation, last mile, warehousing, accounts and billing etc., TVS Logistics seamlessly connects with customers’ ERP to provide them with real time visibility and transparency in operations. The company has been repeatedly recognised by industry and company through awards for its operations, technology, end to end services and human resource practices.