RS Group

RS Group plc is a global omni-channel provider of industrial products and service solutions, specializing in the distribution of electronic, electrical, and maintenance components to support design, manufacturing, and operations across various industries.^[1] Headquartered in London, England, the company stocks over 830,000 products from more than 2,500 suppliers and serves customers in 36 countries through a network of local inventories, digital platforms, and high-touch services.^[2] Founded in 1937 as Radiospares by J.H. Waring and P.M. Sebestyen in a London garage, the company initially focused on supplying radio spare parts before expanding into broader electronic components in 1954.^[3] It listed on the London Stock Exchange as Electrocomponents plc in 1967, rebranded to RS Components in 1971, and underwent significant international growth in the 1990s, including the acquisition of Allied Electronics and Automation in 1999 and the launch of its first UK transactional website in 1998.^[3] By 2017, RS Group achieved over £1 billion in online revenue, and in 2022, it rebranded from Electrocomponents plc to RS Group plc, with the rebrand completing across subsidiaries in 2023, further expanding through acquisitions such as Distrelec in 2023 and Trident in 2024.^[3] The company's purpose centers on empowering industrial evolution by addressing customer challenges with innovative digital tools, sustainable practices, and a commitment to a net-zero supply chain by 2050.^[1] RS Group emphasizes a collaborative culture that drives innovation and operates with a focus on ethical sourcing, environmental responsibility, and long-term customer partnerships.^[1]

History

Founding and early years

RS Group plc was founded in 1937 as Radiospares by J. H. Waring and P. M. Sebestyen in a lock-up garage at Lanark Villas in Maida Vale, London. The company initially supplied spare parts to radio repair shops, capitalizing on the growing popularity of radio technology in the UK.^[3] Following World War II, Radiospares evolved into a national distributor, expanding its product range to meet post-war industrial demands.^[4] In 1954, the company broadened its offerings to include a wider array of electronic components for the industrial sector, moving beyond radio and television spares. This shift supported manufacturers in various industries and laid the foundation for future growth. By 1971, Radiospares rebranded to RS Components, reflecting its expanded scope in electronic distribution.^[3] During this period, the company established its first export operations, including a link with Radionics in Dublin, Ireland, in 1947, marking early international outreach.^[4]

Public listing and expansion

In 1967, the company listed on the London Stock Exchange as Electrocomponents plc, with an initial market value of £2.75 million. This public listing provided capital for further expansion and solidified its position in the electronics distribution market.^[4] Throughout the 1970s and 1980s, RS Components grew rapidly; by 1976, monthly sales exceeded £1 million, and in 1984, it opened a major distribution center in Corby, Northamptonshire, to handle increasing order volumes.^[3] The 1990s saw significant international growth. RS Components expanded into 28 countries, launching its first transactional website in the UK in 1998 and investing in e-commerce capabilities. In 1995, a new distribution center opened in Nuneaton, Warwickshire. A key milestone came in 1999 with the acquisition of Allied Electronics and Automation from Avnet Corporation for $380 million, which established a strong presence in the United States and Canada.^[3] By 2000, the company had joined the FTSE 100 index and launched operations in China, including a fulfillment center in Shanghai.^[4]

Diversification and recent developments

The 2000s and 2010s marked a period of diversification into services and digital tools. In 2010, RS Components launched DesignSpark, a free PCB design software suite, enhancing support for engineers. The company also introduced RS PRO, its private-label range of industrial products, and acquired OKdo for embedded computing solutions. By 2017, online revenue surpassed £1 billion.^[3] Acquisitions accelerated in the late 2010s to broaden capabilities in supply chain services and maintenance, repair, and operations (MRO). In May 2018, Electrocomponents acquired IESA, a UK-based outsourcing provider, to strengthen vendor-managed inventory services. This was followed by the 2019 purchase of Monition Group for asset management and condition monitoring. In 2020, Needlers was acquired, and in 2021, Liscombe, leading to the formation of RS Safety Solutions for personal protective equipment (PPE). The 2021 acquisition of Synovos expanded global MRO services, while the 2022 purchase of Risoul y Cia in Mexico for $275 million enhanced Latin American operations and e-commerce.^[3] Also in 2022, domnick hunter-RL was acquired to bolster filtration products. In March 2022, Electrocomponents plc rebranded to RS Group plc, unifying brands like RS Components and Allied Electronics & Automation under the RS identity across 31 countries to streamline customer experience. The 2023 acquisition of Distrelec for £313 million added high-service distribution in Europe, contributing £135 million in revenue. In 2024, RS Group acquired Trident Australia for approximately £8 million, extending expertise in the energy and resources sector in Asia Pacific.^[3] Recent initiatives as of 2025 focus on sustainability and digital transformation. In 2021, RS Group launched its 2030 ESG action plan, emphasizing low-carbon products; by 2024, the Better World range of sustainable items reached 30,000 products, with a target of 100,000. The 2024/25 ESG report highlighted a 7% reduction in Scope 1 and 2 emissions and 94% recyclable packaging. In fiscal 2025, the company invested £50 million in warehouse systems and distribution in Italy and Ireland, while introducing a new product management solution that tripled searchable products. These efforts supported stable like-for-like revenue despite market challenges.^[5]

Business operations

RS Group plc operates as an omni-channel distributor of product and service solutions, supporting customers in designing, building, maintaining, repairing, and operating industrial equipment and facilities. The company serves over 1 million customers across industries including design and discrete manufacturing, process manufacturing, facilities and intralogistics, and energy and utilities. With a focus on digital platforms, local inventory management, and high-touch services, RS Group stocks over 830,000 products from more than 2,500 suppliers and operates in 36 countries through a network of distribution centers and e-commerce sites. As of 2025, it employs approximately 8,500 people globally.^[2][6]

Geographic segments

RS Group's operations are organized into three primary geographic segments: Europe, Middle East & Africa (EMEA); the Americas; and Asia Pacific. The EMEA segment, which includes the company's UK headquarters, represents the largest portion of operations and focuses on serving European markets with localized supply chains. The Americas segment, primarily through its North American brand Allied Electronics & Automation, targets industrial customers in the US and Canada. The Asia Pacific segment supports growth in emerging markets with tailored digital and inventory solutions. In the fiscal year ended March 31, 2025, these segments collectively generated £2,904 million in revenue, with like-for-like growth in corporate customer segments offsetting macroeconomic challenges.^[7][8]

Product and service offerings

The company's core offerings include electronic components, electrical products, automation and control gear, test and measurement equipment, engineering tools, and maintenance, repair, and operations (MRO) consumables. RS Group emphasizes problem-solving through its own brands and supplier partnerships, providing alternatives for hard-to-source items to minimize downtime. Services extend beyond products to include design support (e.g., prototyping and simulation tools), maintenance solutions (e.g., inventory optimization and repair kits), procurement management, and sustainability initiatives like energy-efficient product recommendations. Digital tools, such as the DesignSpark platform for engineering design, enable seamless integration across customer workflows. In 2025, RS Group shipped one product every two seconds on average, highlighting its efficient global logistics.^[6][2]

Key brands and recent developments

RS Group operates through several specialized brands to deliver targeted solutions. RS Components serves as the global flagship for product distribution, while RS PRO offers a value-driven range of over 100,000 vetted industrial products. OKdo focuses on single-board computers, IoT, and prototyping for designers and makers. Other brands include DesignSpark (engineering software and community), RS Integrated Supply (formed in January 2025 by uniting IESA and Synovos for integrated supply chain services), and regional entities like Needlers and Liscombe for specialist MRO in the UK. These brands support the company's strategy of combining global scale with local expertise, including a commitment to net-zero operations by 2030 in direct activities.^[9][10][11]

Corporate affairs

Leadership and governance

RS Group is led by Chief Executive Officer Simon Pryce, who was appointed in April 2023 and is responsible for developing, leading, and implementing the group's overall strategy.^[12] The Chief Financial Officer is Kate Ringrose, appointed effective October 2, 2023, overseeing financial management, strategy, and investor relations.^[13] The Executive Committee, chaired by the CEO, supports operational execution and includes regional presidents such as Pete Malpas (EMEA), Doug Moody (Americas), and Sean Fredericks (Asia Pacific), along with functional leaders like Christian Horn (Chief of Product and Supply Chain), Steve Izquierdo (Chief People Officer), Nicki Young (Chief of Customer Experience), Janet Robertson (Chief Information Officer), and Clare Underwood (Group General Counsel and Company Secretary).^[14] Governance is provided by the Board of Directors, chaired by Baroness Rona Fairhead since February 2021, with David Sleath serving as Senior Independent Director. The board comprises two executive directors (Pryce and Ringrose) and eight independent non-executive directors, including Alex Baldock, Louisa Burdett, Carole Cran, Bessie Lee, Miles Roberts, and Joan Wainwright, ensuring independent oversight of management.^[15][16] The board sets the strategic direction, monitors performance and risks, and promotes long-term sustainable success while creating value for stakeholders through leadership characterized by integrity, sustainability, and commercial focus. It complies with the UK Corporate Governance Code, with matters reserved for the board outlined in its schedule of responsibilities, and emphasizes diversity in appointments to foster inclusive decision-making.^[16] Supporting the board are three principal committees: the Audit Committee, chaired by Carole Cran and comprising Alex Baldock, Louisa Burdett, Miles Roberts, and David Sleath, which oversees financial reporting, internal controls, and non-audit services (capped at 70% of average audit fees over three years); the Remuneration Committee, chaired by Joan Wainwright and including Louisa Burdett, Alex Baldock, Miles Roberts, and David Sleath, which develops executive pay policies aligned with performance and stakeholder interests; and the Nomination Committee, chaired by Baroness Fairhead and consisting of Louisa Burdett, Bessie Lee, Miles Roberts, David Sleath, and Joan Wainwright, which handles board succession, composition, and diversity. These committees enhance governance through specialized review and recommendations.^[16]

Subsidiaries and ownership

RS Group plc operates through a network of wholly owned subsidiaries and a few joint ventures, enabling its global distribution of industrial and electrical products. Key operating subsidiaries include RS Components Limited, based in the United Kingdom, which serves as the core entity for product distribution in Europe.^[3] In North America, RS Americas, Inc. (formerly Allied Electronics & Automation, acquired in 1999) handles regional operations, focusing on automation and electronics.^[3] Other significant subsidiaries encompass RS Integrated Supply, formed in 2022 through the consolidation of IESA (acquired 2018) and Synovos (acquired 2021), providing integrated supply chain management services; and RS Safety Solutions, established in 2022 by merging Needlers and Liscombe (both acquired 2021), specializing in personal protective equipment and safety products.^[3] Additional subsidiaries support specialized functions and regional expansion. These include Distrelec Group AG, acquired in 2023 to bolster MRO (maintenance, repair, and operations) distribution in Europe; Trident Tools Pty Ltd, acquired in 2024 for energy sector MRO in Australia; and Risoul y Cia, S.A. de C.V., acquired in December 2024 to strengthen industrial distribution in Mexico; and Monition Group Limited, acquired in 2019 for condition-monitoring technologies.^[3][17] OKdo Limited operates as a subsidiary focused on single-board computers and IoT solutions, while RS Group International Holdings Limited serves as a holding company for international operations and is wholly owned by the parent.^[18] The company maintains over 50 subsidiaries worldwide, all 100% owned except for the 50% joint venture in RS Components & Controls (India) Limited.^[7] As a publicly traded company listed on the London Stock Exchange under ticker RS1 since 1967 (originally as Electrocomponents plc), RS Group plc's ownership is dispersed among institutional investors. As of the latest available data in 2025, major shareholders include The Vanguard Group, Inc. with 2.405% (11,401,000 shares), BlackRock Investment Management (UK) Ltd. with 2.283% (10,823,785 shares).^[19] No single entity holds a controlling stake, reflecting broad institutional ownership typical of FTSE 250 companies. Non-controlling interests in the group remain minimal at £0.5 million as of 31 March 2025.^[7]

Financial performance

RS Group plc reports its financial year ending on 31 March. Key financial metrics for recent years are as follows: Adjusted figures, excluding items such as amortisation and acquisition-related costs, for the year ended 31 March 2025 were: adjusted operating profit £274.2 million and adjusted profit before tax £247.5 million.^[7] For the half year ended 30 September 2025 (first half of fiscal year 2026), revenue was £1,403 million, a decrease of 3% from £1,441 million in the prior period, with like-for-like revenue down 1%. Adjusted profit before tax was £112 million, down 6% from £118 million.^[20]