TVS Rico has acquired a 60 per cent stake in SPC International, adding repair and parts supply to its range of supply chain services.
Uxbridge based SPC has an annual turnover of INR 165 crores (£20.5 million). It has operations in UK, France, Slovakia, USA and India, offering hardware support with specialisation in IT spares and repairs, supporting OEM and multi-vendor maintenance companies.
The total investment by TVS Logistics for this acquisition and funding its future growth will be more than INR 100 crores (£12.4m).
TVS Rico has been expanding rapidly with acquisitions including DHL Same-Day and Circle Express.
Sam Sharma, chief executive of 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.”