SIRVA, Inc. to acquire Realogy's Cartus Relocation business
Complementary combination to produce the industry's most capable, knowledgeable, experienced and stable relocation management company, with capabilities spanning the globe
OAKBROOK TERRACE, Illinois, Nov. 7, 2019 /PRNewswire/ -- SIRVA, Inc., a leading global relocation and moving company, today announced that it has entered into a definitive agreement to acquire the relocation assets of Cartus global relocation company from Realogy Holdings Corp. (NYSE: RLGY). The agreement does not include Cartus's Affinity or Broker Services businesses.
The addition of Cartus's Relocation business will expand SIRVA's service and support capability, consistent with the company's strategy to be everywhere their clients want them to be.
"The winners in this transaction are undoubtedly our clients and their employees," said Tom Oberdorf, Chief Executive Officer at SIRVA. "We're excited by the tremendous potential of this highly complementary combination to enhance our capabilities and service for clients. Together, we will have the opportunity to provide our customers with the best that each company has to offer, including bestin-class technology, a well-established Real Estate Broker network, an integrated household goods capacity and a superior experience for our clients' relocating corporate employees. Cartus' talented relocation professionals are steeped in mobility expertise, and we look forward to welcoming them to the SIRVA family."
Cartus brings to SIRVA a highly talented and experienced employee group and a strong supply chain that promises to enhance SIRVA's exceptional transferee experience. Cartus clients will benefit from having access to SIRVA's integrated household goods capacity and a larger, combined supply chain, whose increased scale should help drive down clients' costs over time.
The new SIRVA/Cartus will deliver the richest breadth of service options, leading program flexibility, an accelerated pace of technology innovation and ultimately, heightened emphasis on the experience of relocating employee.
The transaction is expected to close in the first half of 2020, pending regulatory approval and the satisfaction of other closing conditions.
About SIRVA, Inc.
SIRVA is a global leader in moving and relocation services, offering solutions for mobility programs to companies of every size. With 75 owned locations and more than 1,000 franchised and agent locations in 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, Team Relocations, Allied, northAmerican, Allied Pickfords & 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.
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