TVS Logistics on Thursday announced that its UK arm TVS Rico Supply Chain Services has acquired more than 60% stake in SPC International.
TVS Logistics, one of India’s largest integrated supply chain solution providers and part of the multi-billion dollar TVS group, on Thursday announced that its UK arm TVS Rico Supply Chain Services has acquired more than 60% stake in SPC International, a UK-based repair and remarketing service provider for a consideration of R100 crore.
This acquisition in the UK adds repair and parts supply to the company’s list of end-to-end supply chain services for its customers worldwide.
SPC International has operations in the UK, France, Slovakia, the US and India and provides employment to 350 professionals across these geographies. It offers hardware support with specialisation in IT spares and repairs, supporting OEM and multi-vendor maintenance companies. TVS Rico, whose previous acquisitions include well-known UK brands such as DHL Same-Day and Circle Express, is a flagship company of TVS Logistics in the UK.
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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’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.
R Dinesh, managing director, TVS Logistics Services Limited, 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.”