TVS acquires Multipart
Monday, November 16th, 2009Multipart Supply Chain Solutions, one of the UK’s leading specialist logistics service providers which is largely focused on the automotive defence, utility and beverage sectors, has been acquired by TVS Group, a $5 billion turnover, privately-owned Indian conglomerate which already has a strong presence in both vehicle parts logistics and in the UK component supply industry.
R. Dinesh, Managing Director of TVS Logistics said: “Multipart is a strong brand with an excellent track record and we are confident that we can achieve much together. We have conducted an exhaustive due diligence process and have been delighted with the positive impressions of the business we have gained from the Multipart team itself and, in particular, from key clients. TVS and Multipart make a perfect ‘fit’ and we look forward to strong growth in the future”.
Chris Gateley, Multipart’s Managing Director, commented: “We have known TVS since the late 1990s and have a deep respect for their understanding of our business and market sector and their determination to invest for future growth. The other UK business they acquired has grown its sales sixfold in just five years under TVS ownership and TVS are committed to developing Multipart both in the UK and Continental Europe”.
Gateley added that Multipart would provide TVS with opportunities to grow into the UK and Europe by adding both new clients and additional services from its UK base. The management team and workforce will remain largely unchanged.
“During the last two years Multipart has been successful in winning new contracts and reporting profits. This culminates from the business’s desire to provide excellent service to all our clients. Our only constraint has been access to funding for growth and TVS understands that and the need to provide inventory funding support as new contracts are awarded”, he said.
Multipart operates a modern high tech warehouse facility covering 270,000 sq ft in Buckshaw Avenue, Chorley which was built in 2006 together with other warehouse facilities in Crick, North Luffenham and Bicester.
Multipart specialises in providing full end-to-end supply chain offerings, including procurement, inventory funding, parts pricing and IT support to the automotive, defence and utility sectors. Clients include Optare, Isuzu Truck (UK), Modec and Dennis Eagle (together with TVR and LDV Vans) in the automotive sector; MBDA, ALC and the Ministry of Defence in the defence sector; and Anglian Water Services in the utilit
