TVS Logistics, one of India’s largest integrated Supply Chain solution providers, 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 crores. The total investment by TVS Logistics for this acquisition and funding its future growth will be in excess of Rs. 100 crores. 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 US 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). Products offered include retail, banking, barcode and data collection, PCs, printers, and notebooks.
Mr. R. Dinesh, Managing Director, TVS Logistics Services Ltd., who recently received the Entrepreneur of the Year (Service) Award by Ernst & Young, 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”. 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.
TVS Logistics which set up base in the UK in 2004 has invested around Rs. 6,170 million 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.