TVS Logistics acquired UK-based Universal Components

TVS Group subsidiary TVS Logistics acquired UK-based Universal Components for Rs 100 crore, Universal components is wholesale distributor of commercial vehicle parts. This is one of the biggest acquisitions for TVS Logistics. Its Managing Director R Dinesh told reporters that the total amount spent on this acquisition is Rs 100 crore It was made through the Special Purpose Vehicle into Universal Components, he added

This acquisition would surely help TVS group to develop its presence in the commercial Vehicle spare parts business in other Asian markets and help to get new clients from UK for their existing spare parts. this was done through TVS Europe Distribution, so now TVS Europe Distribution has 90 % of Universal Components UK Ltd. the present MD of Universal Components David Kernahan would continue to head the business, sharing his knowledge with TVS.