The third-party logistics provider’s purchase of United Kingdom-based Evolution Time Critical will allow Metro, which is headquartered in Canada, to expand its automotive services presence beyond North America.
Metro Supply Chain has acquired United Kingdom-based automotive logistics specialist Evolution Time Critical, according to a joint statement from the companies.
The Canadian third-party logistics provider said the purchase will allow Metro to expand its automotive services presence beyond North America and develop a foothold in Europe using Evolution Time Critical’s global automotive supply chain.
Evolution Time Critical will remain headquartered in the UK with the existing management team and the same will be true of Evolution Time Critical Deutschland, the company’s service hub in Dusseldorf, Germany. Financial terms of the deal were not disclosed.
“The acquisition of Evolution Time Critical is a crucial development for Metro Supply Chain Group,” Metro CEO Chiko Nanji said of the deal. “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.”
“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,” added Martin Graham, Metro Supply Chain Group President. “The companies share a philosophy for providing an outstanding service that is uncompromising in quality and relevance to customer requirements. The acquisition helps us to take a significant step towards creating a world-leading supply chain group that spans multiple industries.”
According to the company, Evolution Time Critical provides a “safety net” for the automotive and industrial services industries by offering time sensitive solutions designed to counter threats to supply chain integrity. The way those services are being used by vehicle manufacturers and suppliers, however, is changing.
What was once a “just-in-time failsafe, emergency logistics expertise is 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,” the company said.
“It is also becoming increasingly common for premium freight to be used strategically as a primary logistics route for high unit cost components,” it added.
Evolution Time Critical Managing Director Brad Brennan said his company will make strategic use of Metro’s 12 million plus square feet of warehousing, as well as its IT and transport management systems to provide a “truly multimodal service” to its customers.
“We are extremely excited by the opportunities afforded by Metro Supply Chain Group backing for Evolution Time Critical; a broadening capacity will ensure that the safety net protecting automotive and industrial services supply chain operations has never been as flexibly robust,” said Brennan. “We are proud of our proven track record for crisis aversion and supply chain safeguarding, and now have the platform from which to expand our capabilities to fulfil long-term ambitions. Increasing our North American presence will benefit our customers and help to achieve sustained business growth and a globalized footprint for Metro Supply Chain Group.”
Metro Supply Chain acquires European automotive logistics specialist
