Canada’s Metro Supply Chain Group has acquired Evolution Time Critical, the Europe-based specialist in automotive emergency logistics.
The deal — financial terms were not disclosed — provides 3PL provider Metro with an opportunity to increase its automotive industry presence beyond North America.
“We have the platform from which to expand our capabilities to fulfil long-term ambitions,” said Evolution Time Critical managing director, Brad Brennan, adding:“Increasing our North American presence will benefit our customers and help to achieve sustained business growth and a globalised footprint for Metro Supply Chain Group.”
Chiko Nanji, chief executive of Metro Supply Chain Group, said: “The acquisition of Evolution Time Critical is a crucial development for Metro Supply Chain Group.
“It clearly signals our intention to accelerate the provision of increasingly comprehensive supply chain solutions for our customers and also supports our strategy for long-term business growth.”
Evolution Time Critical will remain headquartered in the UK with the existing management team, and the company’s operation will also continue at its service hub in Dusseldorf, Germany.
“Metro Supply Chain Group has been looking for the perfect opportunity to expand into new markets and regions and, following a rigorous evaluation process, Evolution Time Critical was identified as our number one target,” said Martin Graham, Metro Supply Chain Group president.
“The acquisition helps us to take a significant step towards creating a world-leading supply chain group that spans multiple industries.”
Evolution Time Critical traditionally provides a “safety net” for the automotive and other industries but said that its original emergency logistics expertise “is now being viewed as an enabler for the higher risk strategies – such as lean supply, reduced buffer stocks and contracting lead times – that are required to satisfy intensifying production schedules”.
It is also becoming increasingly common for premium freight to be used strategically as a primary logistics route for high unit cost components.
