This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)(Learn how and when to remove this template message)
The business started under the name Ricochet Couriers, providing same-day courier services in and around Slough. The business quickly expanded to four offices within the West London area and then commenced servicing contracts in the IT sector. All emergency calls were generally serviced from one major warehouse in the UK and it proved difficult to reach all of the UK from one location within four hours.
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. The parts delivered were to engineers servicing the retail and banking sector and as demand increased to facilitate clients within the server and various other sectors, more warehouses and PUDO’s (Pick up and Drop off centres) were introduced. The business could see that more and more of the critical parts required were becoming modular and could be swapped by smart technicians and thus decided to invest in offering technicians who could carry out the actual fix and exchange of the part at the customers’ location.
In 2002, Ricochet Couriers acquired Burnham Logistics who provided peripheral technicians (200) plus moves and installations of IT equipment. Field Stock Locations (FSL) and In-Night parts distribution for service engineers in the IT industry. Ricochet developed the technical swap model rapidly and began using fully trained IT engineers to enhance and support their clients’ requirements.
In 2004, Ricochet realised that tracking of parts out bound and return was critical to ensuring an optimum supply chain loop and thus 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.
Formation of Rico Logistics
In 2008, Rico bought-out their Irish logistics 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.
In 2010 Rico ranked 24th on the fast track 100 annual league of Britain’s fastest growing private companies.
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. See T. V. Sundaram Iyengar paved the way for the TVS Group
- TVS group now has $7bn annual revenue worldwide
- currently comprises around over 50 companies in diverse fields
- UK Group Turnover £180m
- India Logistics Group Turnover $557m
- Global Reach, strategic facilities in 11 European Countries and India
- Major shareholders in TVS/Rico - KKR and Goldman Sachs (40%)
On 1 November 2013, Rico acquired DHL Sameday in the UK. DHL Sameday offered Sameday Courier and FSL services for predominantly IT Customers so had good synergies with the existing Rico business. The operational transition of the DHL business into Rico commenced in January 2014 and concluded on 28 February 2014.
18 January 2016 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 specifically targeted at the UK air freight forwarding industry and is the preferred UK Freight Distribution carrier for many International Freight Forwarders
With over 30 years experience, Circle Express has an annual turnover in excess of £29million with a countrywide fleet of 300 vehicles operating out of 8 Aviation Security listed depots near the airports at Heathrow, Aberdeen, Birmingham, Exeter, Glasgow, Leeds, Manchester and a cross dock facility in Milton Park, Abingdon.
Circle Express is the only UK operator fully licensed to transport all classes of hazardous materials including firearms & ammunition, and Radioactive, toxic, flammable, corrosive and explosive material. Circle Express also offer both ADR and CPC training.
Lines of Business
Rico has three lines of Business:
- Rico Sameday – offering final mile/Km services and time critical contract distribution within many sectors including IT, medical, retail, field service and hospitality.
- Rico Technology Services – providing IT service engineers and technical couriers for Break-Fix to IT clients.
- Rico Technology Logistics – providing National Distribution Centre (NDC) service and Field Stock Locations (FSL) for client strategic parts storage. Providing In-Night distribution of spare parts to engineers to Pick-Up and Drop Off (PUDO) locations throughout the geography, or other delivery mechanisms via In-Boot delivery or Lockbox locations.
Rico provide "Airbridge" solutions, enabling customers to fly or drive parts in from European Distribution Centres (primarily in the Netherlands) arriving at 11 pm, and Rico distribute those parts for arrival in the designated locations by 8 am next morning.
Rico now have operations in many countries worldwide with Rico Sameday and Rico Technology services currently operating in these countries.
- Company data listing for Rico Logistics on www.DueDil.com
- Directory listing on Cyclex Business Directory
- The Sunday Times HSBC International Track 100 2010 outlines the business start up
- Who Owns Whom 2008/09. Dun & Bradstreet Limited. 2008. p. 847. ISBN 9781860716911.
- Fulfilment & E-logistics magazine interview with Rico Logistics, Summer 2008
- Profile: ‘My best business decision: Sam Sharma’, Growth Business website, 08-06-06
- Fulfilment and E-logistics magazine interview with Rico Logistics, Summer 2008
- ‘TVS Logistics acquires UK-based Rico Logistics’, The Times of India, 13-02-21
- ‘TVS Logistics announces acquisition of UK based Rico Logistics’, TVS Logistics Services website, 13-02-21
- ‘TVS Logistics breaks its traditional shackles’, Business Standard (India), 13-03-06
- ‘TVS Logistics acquires Rico Logistics of the UK’ Autocar Professional website, 13-02-21
- TVS Supply Chain Solutions outline and history
- ‘Re-branding builds on historic strengths’, Multipart website, May 2011
- ‘TVS Logistics acquires Rico Logistics in UK’, Sagar Sandesh (English maritime website), 13-02-22
- TVS Group website
- ‘We will never acquire a loss-making company, says TVS Logistics MD’, The Hindu Business Line, 13-07-03
- ‘TVS Logistics Services takes over UK's Rico Logistics with stake buy’, The Financial Express (India) 13-02-21
- ‘Rico completes seamless transition of DHL Same Day’, Post & Parcel website, 13-11-11
- ‘Rico completes seamless DHL acquisition’, Business Quarter website, 13-12-10
- ‘TVS Logistics buys U.K. firm’, The Hindu, 13-02-22
- ‘Rico Logistics selects Peak-Ryzex to manage rugged mobile devices’, Enterprise Mobile Matters blog, 14-06-26
- ‘Rico Logistics launches evening delivery service’, Skillweb 14-05-20
- ‘Rico Logistics "excited" after completing DHL Express same-day acquisition’, Motor Transport website 13-11-07
- ‘Competitor Watch: DHL UK sells same-day domestic courier division’, Royal Mail website 13-10-10
- Rico Sameday website
- Rico Field Resourcing website
- Rico Technology website
- ‘RICO Group enters the Polish market’, Cushman & Wakefield website, 14-07-30