Air, Feature, Freight News

Airfreight firm comes full Circle

[ January 25, 2016   //   ]

UK airfreight collection and delivery company Circle Express has ended a long period operating under a company voluntary agreement with its sale to TVS logistics group, Rico. The company has taken a majority shareholding in Slough-based Circle, which appointed turnaround specialists KSA Group to allow it to continue trading while it repaid its debts.

Management of both companies see benefits in merging their operations, although Circle Express’ day to day operations and management will not change.

Circle Express managing director, Tom Ryan, explained that the move would allow the merged operator to expand its dangerous goods capabilities. “Rico already have 1400 Sameday Couriers operating in the UK. With our ADR (dangerous goods) training facilities we can quickly up-skill these drivers to ADR capability which is mandatory for our operations. We can then provide a much stronger same day service to our customer base,” he said.

Circle Express says it the only UK operator fully licensed to transport all classes of hazardous materials including firearms and ammunition and radioactive, toxic, flammable, corrosive and explosive material. It also provides dangerous goods training.

Rico Global chief executive Sam Sharma, added: “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.”

Circle Expess, which specialises in the airfreight forwarding collection and delivery sector, has an annual turnover of over £29million and a fleet of 300 vehicles operating out of depots near Heathrow, Aberdeen, Birmingham, Exeter, Glasgow, Leeds and Manchester airports, along with a cross dock facility in Milton Park, Abingdon, Oxfordshire.

TVS Logistics has $10 billion annual revenue and over 30,000 employees worldwide, with a UK subsidiary operating over 40 branches and controlling over 1,400 courier vehicles a day. It also provides warehousing and technical field engineering services.