TVS group has announced the acquisition of Universal Components (UC) UK Ltd. – Britain’s leading independent wholesale distributor of Commercial vehicles’ parts and accessories. Universal Components is the second acquisition by TVS group in UK after its successful buyout of Multipart Holdings in 2009. With these two acquisitions, TVS group turnover would cross INR 1,000 Cr in UK and would employ nearly 500 persons.
TVS Group had already made acquisitions in UK through TVS Logistics Services Limited in 2009 to acquire the capability in the Logistics business. Post that acquisition, the Distribution and Services business had been looking at possible acquisitions to increase its relevance to its stake holders (suppliers) and also acquire new capabilities. In this regard, TVS Europe Distribution Ltd. – a special purpose vehicle created in UK has purchased 90% of Universal Components UK Ltd.
The acquisition of Universal Components will help TVS develop its presence in the commercial and light commercial vehicles spare parts range in other Asian markets (except India) as well as help acquire best practices in dealing with its customers (small retailers). It will also further improve its forecast and planning capabilities and deploy State- of-the-art IT systems in India and other countries where the distribution of spare parts is currently undertaken (viz., Srilanka, Bangladesh etc.).
