TVS Supply Chain Solutions has acquired Slough-based Rico Logistics for an undisclosed sum.
Rico specialises in the supply of spare parts, predominantly into the technology industry. This involves a combination of strategic warehousing, rapid delivery and service engineer expertise. It also has clients in automotive, medical and beverage sectors. The company has a turnover of around £45million.[asset_ref id=”1851″]
Chorley-based TVS has its roots in the motor industry and provides spare parts support on behalf of its customers globally.
Richard Slee, chief executive at TVS SCS, said: “There are real synergistic growth opportunities between our two businesses, which are key to both Europe and the rest of the world potentially. We now have the capability to manage high quality parts, keeping inventory low yet availability high and with an added rapid response capability.”
It sees an opportunity to combine TVS SCS managed centralised inventory and Rico’s last mile rapid response service.
Rico offers services such as ‘break fix’ by sending engineers to repair on-site as well as its tailored rapid deployment and delivery services. These services will now be deployed into some of the other vertical sectors that TVS SCS works within.
No jobs will be affected and Rico managing director Sam Sharma will continue long term to oversee the business. Sharma said: “This gives Rico the tremendous potential of expanding its offering across Europe and the globe, with a major partner who has both the credibility and financial standing in this highly exciting industry sector.”
TVS SCS is part of TVS Group, the giant Indian motor part manufacturer.