Rico GroupHistory / Timeline - Rico Group

History / Timeline

2017 – Rico acquires SPC international

TVS Rico Supply Chain Services has acquired a majority stake in SPC International from Beringea, adding repair and parts supply to the company’s end to end supply chain services.  

Combining spare parts logistics, warehousing and field engineering along with repairs helps us `close the loop’ for our clients. With many large IT organisations now focssing on higher end solutions but still wanting to retain a distributed field operation, we believe we can add significant value to our clients.

Beringea will retain a 5 per cent stake in SPC International, an Uxbridge UK based company which has grown significantly since its establishment in 1989 and has annual turnover of GBP20 million.

SPC International has operations in UK, France, Slovakia, USA and India. It offers hardware support with specialisation in IT spares and repairs, supporting multi-vendor maintenance contracts. SPC’s services and solutions include repair and refurbishment, remarketing, reselling, warranty management and inventory management (consigned and owned). Products offered include retail, banking, barcode and data collection, PCs, printers, notebooks and many other products.

2017 - Rico change name to TVS SCS Rico

Five years on from being acquired by TVS Logistics Service, Rico change name to TVS SCS Rico and rebrand completely, providing a new online presence to promote its three divisions: SameDay Courier, Field Resourcing, Spare Parts Logistics.

2016 - Rico develops it global break fix and desk side support business.

The ability to deliver on-site technical and desk side support was developed across the globe and today we offer either ticket based or campus engineers across 100 countries with direct despatch to over 2000 engineers.

2016 - Rico expands into India and Australia.

Clients were now looking at larger global organisations that could add innovation and innovation in the spare parts and logistics sector across more territories. Rico were successful in winning major clients in both Australia and India. With a large number of clients in both countries we have continue to develop these regions.

2016 - Rico Acquire Circle Express

Rico acquired a majority shareholding in Circle Express. The day-to-day operations and management will not change although upper management will have a new reporting structure into Rico.    

Circle Express is one of the largest independent networks offering a collection and delivery service that was specifically targeted at the UK air freight forwarding industry and is the preferred UK Freight Distribution carrier for many International Freight Forwarders. The business has now started carrying large items for the IT & Medical sector and this will continue to be pursued.

2015 – Multiple clients won in Europe

With the now mature European network we won more clients that required one supplier for their spare parts and transport requirements. Inevitably more countries were opened and more services offered.

2014 - The operational transition of the DHL

The operational transition of the DHL business into Rico commenced in January 2014 and concluded on 28 February.

2013 - Rico acquires DHL Sameday

In November, Rico acquired DHL Same-day in the UK. DHL Sameday offered Sameday Courier and FSL services for predominantly IT Customers so had good synergies with the existing Rico business. Rico could see that the on-line retailers were developing their presence and the need for time critical deliveries would increase. The combined scale of Rico same day and DHL same-day would position us well for this new emerging requirement.

2012 - Rico acquired by TVS Logistics Services

On 28 September 2012 Rico was majority acquired by TVS Logistics Services for an undisclosed sum and has been grouped within the TVS Supply Chain Services (TVS SCS) operation which has its European Headquarters in Chorley, Lancashire, UK.  

TVS SCS which was itself acquired by the Indian TVS group TVS Group in November 2009, at which point it changed its name from Multipart to TVS SCS.

2012 - Rico wins first Pan European contract.

Rico under intense competition won a contract with one of the world’s largest EPOS/ATM manufacturers. This enabled us to roll out within a 12 month period 14 countries across Europe and was the foundation to develop our services across Europe. A large network of FSL’s and PUDO’s was matured across multiple European countries.

2010 - Ranked 24th on the Fast Track 100

Rico ranked 24th on the fast track 100 annual league of Britain’s fastest growing private companies.

2008 - Rico acquires Tri-tec Logistics

Rico bought-out their Irish logistics /engineering supplier, Tri-tec Logistics.  

Tri-tec had Field Service Logistics and operations in Northern Ireland and Southern Ireland, with an IT repair operation in Dublin. The operation traded under the Tri-tec name until 2010, when it was absorbed under the Rico Logistics brand. The buildings in Belfast and Dublin were changed to much larger FSL’s and today we have locations also in 6 other cities in the Republic of Ireland.

2005 - Name change to Rico Logistics

We won our first client in Spain and decided to change our name to signify our wider spare parts and European capability. As opposed to utilising any advertising company to design the new name, we simply dropped the `Chet’ from Ricochet. A simple and inexpensive idea…

2004 - Investment into TRACE

In 2004, Ricochet realised that tracking of parts out bound and return was critical to ensuring an optimum supply chain loop  

As  such, we invested in a fully blown IT system – called TRACE, that could interface with the clients and track parts at every stage of their movements. Interfaces were developed for major pan European clients and allowed for efficiencies and greater productivity. In addition, a network of over 250 Pick-Up and Drop Off (PUDO) locations were set up to allow clients’ engineers to collect parts and drop off parts from a location close to their home or area in which they worked.

2003 – Pick Up & Drop Off Points

The PUDO (PICK UP & DROP OFF) service was developed as a collection point for our clients engineers to both collect their spares and drop off their returns.   

Managing clients’ low end engineering and spare parts worked well and we expanded quickly. However our clients still distributed parts to their own engineers via next day carriers and returns parts were often left on site.  We needed to be able to help our clients with a more efficient model.  This expanded rapidly and today we have over 250 locations in the UK and multiple locations across the globe.

2002 - Ricochet couriers acquires Burnham Logistics

It became apparent that delivering spares to engineers and waiting for return parts was expensive and inefficient and more innovative solutions were needed. We realised that as IT equipment became more modular, that the ability to deliver the spare part and exchange the part on site, would add significant efficiencies and optimise the costs. Ricochet acquired a specialist Tech exchange company 'Burnham Logistics’.  

This added 200 peripheral technicians, who were well trained across EPOS, IT and installations. The model that would be offered going forwards would be spares management/distribution and exchange of parts while we would manage the returns flow as well.

1994 - Investment into UK warehousing

The business decided to invest in setting up a number of strategic warehouses all over the UK to ensure any major city could be reached within two to four hours from these strategic warehouses.  By 2000 this network of warehouses numbered 30. The warehouse network is now referred to as FSL’s (fixed stock locations).  

The FSL’s were developed to hold multiple clients across various sectors but focussed heavily in the  IT sector.  Today we have over 44 FSL’s across the UK and Ireland and a large network across the entire Globe

1990 - Rico commenced trading as a same day courier company in Slough.

Within 2 years the business had expanded to 4 operations and gradually moved into servicing the requirements of major IT companies, delivering critical spares to their field engineers.   We quickly discovered that service levels of 4 hours to fix equipment were becoming standard practise and realised that the only way to deliver this service was to hold the clients spares in our own locations.