MUMBAI: TVS Logisitics, one of the leading integrated supply chain solution providers, has picked up 60% stake in UK-based SPC International through its UK arm TVS Rico Supply Chain Services.
TVS Logistics will be investing Rs 100 crore for this acquisition and funding the future growth for the Uxbridge-based SPC International which has a turnover of Rs 165 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, the company said in a statement.
R. Dinesh, MD of TVS Logistics Services Ltd, said, “TVS started acquiring companies globally in search of knowledge, technology, innovations, and global best practices, which has helped the company 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,” he said.
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.”
In the past, TVS Rico has acquired UK brands like DHL Same-Day and Circle Express, which has become a flagship company of TVS Logistics in the UK. It also operates in Australia, India and more than 19 countries in Europe with 45 locations in the UK and Ireland. It 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. It provides employment to 350 skilled professionals across these geographies.
It offers hardware support with specialization 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.
TVS Logistics which set up base in the UK in 2004 has invested around Rs 617 crore over the past 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 3,500 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.