TVS Logistics buys UK logistics co Multipart

CHENNAI: In what is billed as the largest overseas acquisition by an Indian company in the sphere of end-to-end supply chain management services, TVS Logistics ��� a part of the TVS group, has acquired Multipart Holding, which is among the top three after market logistics companies in the UK, reports Our Bureau.

For decades, Multipart was engaged in the distribution of vehicle parts for Leyland, UK. In 1993, it became a separate company and grew to provide aftermarket logistics services to its automotive clients and UK���s defence sector, besides tapping the emerging utility sector. With five key divisions, it has annual sales of Rs 475 crore with Rs 280 crore coming from automotive, Rs 144 crore from defence and the rest from utilities.

It employs 250 people in four locations in the UK. Not disclosing the deal value citing a confidential clause, TVS-L managing director R Dinesh said on Wednesday: ���We will invest in excess of Rs 125 crore in Multipart in the next 18 months to expand operations in the UK and rest of Europe.���