TVS Rico Supply Chain Services has acquired a majority stake in SPC International from Beringea, adding repair and parts supply to the company’s end to end supply chain services.
Beringea will retain a 5 per cent stake in SPC International, an Uxbridge UK based company which has grown significantly since its establishment in 1989 and has annual turnover of GBP20 million.
SPC International has operations in UK, France, Slovakia, USA and India. It offers hardware support with specialisation in IT spares and repairs, supporting multi-vendor maintenance contracts. 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, notebooks and many other products.
TVS Rico, whose previous acquisitions include UK brands like DHL Same-Day and Circle Express, is a flagship company of TVS Logistics in the UK. It operates in more than 45 locations in the UK and Ireland and offers spares management, transport, warehousing, and engineering solutions to its broad range of customers.
Sam Sharma, CEO of TVS Rico, says: “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 tied up with one of the leading players in this sector.”
TVS Logistics which set up base in the UK in 2004 has invested around GBP75 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 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.
TVS Logistics’ managing director R Dinesh says: “We started acquiring companies globally in search of knowledge, technologies, innovations, and global best practices, but today we deliver best in class logistics services in developed economies like the UK and the US. These are the capabilities which we can now offer to India’s logistics sector as well. SPC’s unique know-how can help us enhance our integrated services for our customers’ value chain.”
