TVS Supply Chain Solutions (TVS SCS) is an Indian multinational transportation, logistics and warehousing company. It provides supply chain management services to customers in the automotive, consumer goods, defence and utility sectors in India, the United Kingdom, Europe and the US. It is part of the TVS Group of companies.
History
The company began in 1995 as TVS Logistics, a division of TVS & Sons, before being hived off as a separate company in 2004 as TVS Logistics Services Ltd. (TVS LSL). In 2004 it bought out the UK based CJ Components – an automotive component sourcing company. The company pursued further acquisitions across Europe, the UK, the USA, Singapore and Australia.
In 2009, TVS LSL acquired Multipart Holding,[5] which is among the top three after market logistics companies in UK.[6] With the Multipart acquisition, TVS LSL formed a European subsidiary, TVS Supply Chain Solutions (TVS SCS) from JC and Multipart. This was followed in 2012 by the acquisition of same day courier and IT support and logistics firm Rico Logistics for inr 1000000000. Rico operated as a subsidiary of TVS SCS[7] and was renamed TVS SCS Rico in 2017.[8]
TVS Logistics was then renamed to TVS Supply Chain Solutions[9] in 2019.
In 2020, Mitsubishi Corp invested in TVS Supply Chain Solutions for minority stake.[10]
In August 2023, the company launched its initial public offering and got listed on the Indian stock exchanges.[4]
References
- India can emerge as a key regional parts sourcing hub: R Dinesh, TVS SCS The Hindu Business Line, Dec 17, 2020, retrieved February 18, 2022^
- Roca Parryware strengthens tie-up with TVS Supply Chain Solutions Business Standard, retrieved 2022-02-18^
- TVS Supply Chain Solutions plans IPO in the current quarter 9 January 2023^
- TVS Supply Chain Solutions IPO price band fixed at ₹187-197 a share The Hindu, 7 August 2023, retrieved 23 August 2023^
- TVS-LSL acquires Multipart Holding The Hindu Business Line, Nov 11, 2009^
- TVS Logistics acquires UK's Multipart Holding The Economic Times, Nov 11, 2009^
- U N Sushma. TVS Logistics acquires UK-based Rico Logistics Times of India, Feb 21, 2013, retrieved Feb 18, 2022^
- Julian Allen, Maja Piecyk, Marzena Piotrowska. An Analysis of the Same-Day Delivery Market and Operations in the UK University of Westminster, Nov 2018, retrieved Feb 18, 2022^
- The buyout firm will purchase new shares as well as those held by existing shareholders in TVS Supply Chain^
- Mitsubishi Corp invests in TVS Supply Chain Solutions for minority stake Mint, Nov 11, 2020^