To enhance its same-day delivery capabilities, Rico Logistics, the U.K.-based subsidiary of worldwide logistics group TVS, acquired a majority shareholding in Circle Express. The day-to-day operations will not change; however, upper management will have a new reporting structure.
Circle Express, one of the largest independent networks offering a collection and delivery service specifically targeted at the U.K. airfreight forwarding industry, has an annual turnover in excess of US$41.6 million. The company’s countrywide fleet of 300 vehicles operates out of eight facilities near the airports at Heathrow, Aberdeen, Birmingham, Exeter, Glasgow, Leeds and Manchester, plus a cross-dock facility in Milton Park, Abingdon.
Founded more than 30 years ago, Circle Express is the only U.K. operator licensed to transport all classes of hazardous materials, including firearms and ammunition, as well as radioactive, toxic, flammable, corrosive and explosive materials.
TVS claims revenue of $10 billion annually and employs more than 30,000 people worldwide. The British subsidiary operates more than 40 branches around the U.K. and Ireland, controlling more than 1,400 courier vehicles each day. Rico operates in 16 countries including Europe, Australia and India.