3PL news: MIQ Logisitcs acquires TLC Ltd., expands UK and European footprint
August 15, 2011
Global third-party logistics (3PL) services provider MIQ Logistics announced earlier this month that it has acquired The Logistics Corporation Ltd. (TLC) to augment its service offerings in the United Kingdom and Europe.
Financial terms of the deal were not disclosed.
TLC provides various services for shippers, including warehousing, fulfillment, and retail distribution in the UK. MIQ said that this deal will help in offering shippers more end-to-end supply chain services. And it added that by bringing TLC into the fold MIQ now has additional warehouse locations and retail-oriented distribution centers in close proximity to its current UK locations, but the actual number of locations TLC will bring was not made public.
An MIQ spokesperson told LM that having worked closely together for the last six years on various projects for retail customers, MIQ and TLC share common values, a customer service-oriented culture and provide complimentary services.
“As our relationship grew to include joint sales engagements and seamlessly integrated services, expanding on the partnership was a natural next step,” the spokesperson said.
In April of this year, MIQ Logistics announced the joining of Rob Bongaerts as Vice President and Managing Director EMEA (Europe, Middle East and Africa). Bongaerts was charged with the expansion of the MIQ Logistics presence through a mixture of acquisitions as well as new office openings, initially focusing on eastern and Western Europe. This acquisition reinforces the company’s growth plans and commitment to be the recognized leader in global, transportation and distribution logistics services in the region.
The MIQ spokesperson said that the retail industry is an important vertical focus for the company, explaining that “TLC has an excellent reputation in this industry, particularly in ‘high fashion.’” And she noted that its integration enhances the MIQ Logistics end-to-end supply chain offering by augmenting its current retail industry expertise and experience with expanded retail warehousing and fulfillment operations.
“The acquisition of TLC is an important step in the expansion of our UK and European operations,” says Joey Carnes, chairman and chief executive office – MIQ Logistics, in a statement. “A year ago, when we formed our partnership with Austin Ventures, we did so with a commitment to grow and expand the business by offering comprehensive transportation, distribution and global services of a consistently high quality throughout the world. Our agreement with TLC allows us to build on our existing strengths in serving retail customers by providing even greater capabilities and experience.”
Dick Armstrong, chairman of supply chain consultancy Armstrong and Associates said in an interview that this type of tuck-in acquisition with TLC, with whom MIQ has had a six-year relationship, is an acquisition pattern that MIQ is likely to emulate in the future.
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