Mutually-beneficial acquisition expands global footprint and customer service offering in the global mobility space
JACKSONVILLE, Florida, April 25, 2018 /PRNewswire/ -- Lexicon® Relocation, a wholly-owned subsidiary of The Suddath Companies, is pleased to announce that it has acquired U.K.-based Sterling Mobility. The binding agreement was signed April 23, 2018, with final closing targeted for early May.
The acquisition of Sterling Mobility provides Lexicon Relocation with an expanded global footprint to serve the growing and changing customer needs in the global mobility space, which includes relocation consulting, assignment management, expense management, immigration, destination and supply chain management, and several other related services. Lexicon brings Sterling customers a broadened global reach, together with industry leading technology, expanded service offerings and resources, and international move management leadership.
Lexicon Relocation and Sterling Mobility will combine to provide more than 32,000 annual global relocations with 15 regional offices and more than 1,500 supply chain partners serving 180 countries around the world. Sterling operating locations include London, Madrid, Paris, Geneva, Frankfurt, Cape Town, Singapore, Hong Kong, New Delhi and the United States.
"This acquisition is mutually beneficial, expanding global coverage and helping us better serve the evolving needs of our customers in increasingly-complex international relocation space," said Michael Brannigan, President and CEO of The Suddath Companies. "Sterling complements our expertise in move management and global assignment management, bringing us additional scale and depth, while extending our breadth of service offerings for Destination Service Provider (DSP) management, global expense management, and immigration and compliance. Together, we strengthen our collective market presence and are able to have full oversight to our end customers within the global mobility space."
Jason Mills, COO of Sterling added, "In addition to providing our clients with an expanded footprint and strong capability in the US market, Lexicon is the perfect cultural fit for Sterling. Lexicon shares our same commitment to delivering quality service and providing flexible, customized solutions for our clients."
About Lexicon Relocation
Lexicon® Relocation creates customized global mobility solutions that positively impact organizations. Focused on delivering world-class customer experiences, Lexicon's experts take ownership of every relocation, ensuring each employee is immediately productive in their destination. Clients trust Lexicon to act as an extension of their human resources team, enabling them to attract and retain top-tier talent. When a company aligns with Lexicon, they have a partner who is fully committed to moving their business forward. www.lexiconrelocation.com.
About The Suddath Companies
Suddath moves people, businesses and products.
The Suddath Companies was established in 1919 and is a $550 million global relocation management, transportation and logistics company. Suddath employs over 2,000 people worldwide and has a presence of more than 30 locations throughout the United States, with offices in London and Shanghai, and providing services to and from more than 150 countries across the globe. www.suddath.com.
About Sterling Mobility
The business of listening
Founded in 1991, Sterling has over 25 years of experience in providing quality services to a roster of global blue-chip clients. With 10 offices around the world, Sterling has focused on providing comprehensive mobility and moving services. Sterling's concept of "flexibility in a framework" allows us to be adaptable and agile to our client's needs, without compromising on quality, compliance, governance or cost management. Superior service is the foundation of our heritage and our reputation for quality has been present since our inception. www.sterling.com.
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SOURCE Lexicon Relocation