This acquisition in the UK adds repair and parts supply to the company’s comprehensive list of end-to-end supply chain services for its customers worldwide.
02 Mar 2017 | 5759 Views | By Autocar Pro News Desk
TVS Logistics, one of India’s largest integrated supply chain solution providers, today announced that its UK arm TVS Rico Supply Chain Services has acquired more than 60% stake in SPC International, an Uxbridge UK-based company with an annual turnover of Rs 165 crore.
The total investment by TVS Logistics ...
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TVS Logistics, one of India’s largest integrated supply chain solution providers, today announced that its UK arm TVS Rico Supply Chain Services has acquired more than 60% stake in SPC International, an Uxbridge UK-based company with an annual turnover of Rs 165 crore.
The total investment by TVS Logistics for this acquisition and funding its future growth will be in excess of Rs 100 crore. This acquisition in the UK adds repair and parts supply to the company’s comprehensive list of end-to-end supply chain services for its customers worldwide.
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 the UK, France, Slovakia, the USA and India; and provides employment to 350 skilled professionals across these markets. 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). Products offered include retail, banking, barcode and data collection, PCs, printers, and notebooks.
Commenting on the new acquisition, R Dinesh, managing director, TVS Logistics Services, said, “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”.
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.”
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.”