Rico has announced that it has taken 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 leverage this core capability and also offer both ADR and CPC training within its service offering.
Tom Ryan, Circle Express Managing Director said:
“This great opportunity will give Circle the financial backing and work collaboration opportunities to move forward and strengthen its position in our industry. Rico already have 1400 Sameday Couriers operating in the UK, they are all CRB checked and some also PES checked, so with our ADR training facilities we can quickly up-skill these drivers to ADR capability which is mandatory for our operations, we can then provider a much stronger same day service to our customer base”
Sam Sharma, Rico Global CEO said:
“We are proud to bring Circle Express into the Rico business, as it’s a fantastic opportunity to expand our Same Day capability, generating higher premium services across the UK. This acquisition will bring us some more depots to add to our existing 48 Same Day depots across the country and builds our larger vehicle and trunking capacity within our operations.
"This is another strategic acquisition for Rico which will continue in the future in order to strengthen Rico’s operational capability and Service portfolio across all its different lines of business both in the UK and Internationally.”
Rico with revenues of £100m, is part of TVS, a worldwide logistics group with $10 billion annual revenues and employing more than 30,000 people worldwide. The UK subsidiary operates over 40 branches around the UK and Ireland from where they control more than 1,400 courier vehicles each day. Rico are one of the market leaders in their sector and provide courier, warehousing and Technical Field Engineering services to some of the world’s and UK’s largest blue-chip businesses, in addition to serving the needs of locally based companies. Rico operate in 16 countries including Europe, Australia and India.