TVS Logistics acquires UK firm SPC International

TVS Logistics, the flagship company of the diversified business conglomerate TVS Group, today said the company's United Kingdom division TVS Rico Supply Chain Services acquired "majority stake" in SPC International with investments of over Rs 100 crore.
"TVS Logistics today announced that its UK arm TVS Rico Supply Chain Services has acquired more than 60 per cent stake in SPC International, an Uxbridge UK based company with an annual turnover of Rs 165 crore", the city-based company said.
The acquisition in UK adds "repair and parts supply" to the company's comprehensive list of "end-to-end supply chain services for its customers", a company statement said.

"The total investment by TVS Logistics for this acquisition and funding its future growth will be in excess of Rs 100 crore", it said.
SPC International has operations in United Kingdom, France, Slovakia, USA and India employing about 350 skilled professionals. The company offers hardware support with specialisation in IT spares and repairs, supporting OEM and multi-vendor maintenance companies.
"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 UK and US", TVS Logistics Services Ltd., Managing Director, R Dinesh said.

"These are the capabilities which we now offer to our customers in India and Asia as well. SPCs unique know-how can help us enhance our integrated services for our customers' value chain", he said.

SPC International offers services and solutions including repair and refurbishment, remarketing reselling, warranty management and inventory management.
"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..", SPC International, CEO, John Hemphill said.
Following the acquisition, the release said, the management of SPC International would 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 said.
TVS Logistics which had established its subsidiary in United Kingdom has invested around Rs 6,170 million over the last decade. It employs nearly about 3,500 people in United Kingdom, Europe.