SIRVA, Inc. (“SIRVA”) and BGRS, leading global relocation and moving providers, today announced that they have entered into a definitive agreement to combine into a new organization initially named SIRVA BGRS, Inc. (“SIRVA BGRS”). The transaction is expected to close within the next 90 days and is subject to regulatory approvals.
By bringing together two of the world’s leading relocation companies, the combined business will deliver unparalleled support to clients through:
Tom Oberdorf, Chairman and CEO of SIRVA, said, “This is a natural combination that allows us to meet the expanding and evolving mobility needs of our clients around the world. We look forward to combining our complementary industry expertise, footprint, and technological resources to create a single entity with greater efficiency, scale and local experience, well-positioned to shape the future of mobility and deliver greater value to customers.”
Traci Morris, CEO of BGRS, added, “Both SIRVA and BGRS have a common customer-focused approach that drives everything we do, and we are thrilled at the prospect of joining forces. Together, we will create a differentiated leader with a truly unique set of value-added products, dedicated resources to invest in technological innovation and an unmatched global footprint.”
The combined company will be headquartered in the Chicago Area, and Tom Oberdorf will serve as Chief Executive Officer. Traci Morris will be retiring after a successful transition period.
Following the closing of the transaction, existing SIRVA and BGRS owners, funds managed by Madison Dearborn Partners, LLC and Relo Group, Inc., respectively, will maintain interests in the new organization.
Kirkland and Ellis, LLP is serving as legal counsel to SIRVA. Robert W. Baird & Co. Incorporated is serving as financial advisor to BGRS, and Mori Hamada & Matsumoto, and Davis Polk & Wardwell LLP are serving as legal counsel.
About SIRVA, Inc.
SIRVA is a global leader in moving and relocation services, offering solutions for mobility programs to companies of every size. With 59 owned locations and more than 1,000 franchised and agent locations servicing 177 countries, we offer unmatched global breadth supported by localized attention and innovative technology that strikes the right balance of self service and human support. From relocation and household goods to commercial moving and storage, our portfolio of Brands (SIRVA, Allied, northAmerican, SIRVA Mortgage and SMARTBOX) provides the only integrated moving/relocation solution in the industry. By leveraging our global network, we deliver a superior experience that only a “one-stop shop” can provide.
BGRS develops and implements comprehensive mobility solutions for corporate and government clients worldwide. By combining deep industry experience and unparalleled insights on the future of mobility, we design products (BGRSflex™, TripWise™) and administer programs that align with our clients’ organizational, and talent needs and reflect our focus on a customer experience that includes the choice and flexibility required for today’s global talent. With more than 1,300 people across six continents, and service coverage in 185 countries, we blend global perspective with local market strength.
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