Canterbury Partners is pleased to have advised the owners of RL Circular Operations (formerly TIC Reverse Logistics) and related subsidiaries, on the divestment of the business to Assurant Inc. (NYSE: AIZ).
Founded in 1989, TIC Group operates across three core business lines: post-purchase customer experience, centralised return centres, and asset recovery, with offices in Melbourne, Auckland, Mumbai, and Gurgaon. RL Circular Operations, a reverse logistics division of TIC Group is widely recognised as the leading post-purchase workflow and reverse logistics service provider for retailers, manufacturers, and suppliers in Australia and New Zealand.
Assurant, Inc. (NYSE: AIZ) is a Fortune 500 global protection company that partners with the leading global brands to safeguard and service-connected devices, homes, and automobiles across 21 countries.
Assurant’s acquisition of RL Circular Operations expands its ability to deliver end-to-end device lifecycle management, optimising the value of devices for clients and enhancing sustainability, while also reducing reliance on third-party logistics partners.
Hemaka Perera, APAC President at Assurant, stated, “Welcoming RL Circular Operations to Assurant strengthens our ability to scale innovation and deliver even greater value to our clients and partners across the region. This acquisition also enhances our competitive position in the retail channel across Australia and New Zealand – two priority APAC markets – and expands our extended warranty and mobile value chain capabilities.”
“We are confident this partnership will unlock new opportunities for our team and our customers,” said Sanjay Sehgal, Managing Director, RL Circular Operations. “Assurant’s global capabilities and investments in AI and robotics, combined with RL’s expertise, will help elevate our services and drive innovation across Australia and New Zealand, helping retailers and manufacturers meet evolving consumer demands and sustainability goals.”
