Global relocation and moving providers SIRVA, Inc. and BGRS have announced they are combining operations to create a new company they say will ‘deliver unparalleled support to clients.’
Initially named SIRVA BGRS, Inc, the companies said in a joint statement (May 6, 2022) they expect to close the new deal within the next 90 days, subject to regulatory approval.
The statement said the transaction would give a wide range of product offerings and robust technology solutions. ‘Clients will benefit from having access to the richest breadth of relocation and household goods service options, leading programme flexibility and best-in-class technology solutions.’
It added that it would expand the global reach and access to mobility talent.
‘SIRVA BGRS’s global footprint will include 4,000 employees across 66 offices in more than 170 countries – providing extensive local coverage and offering clients exposure to a larger, combined supply chain, whose increased scale will help create efficiency in the market,’ said the statement.
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 new company will have its head office in the Chicago region. Oberdorf will serve as its Chief Executive Officer, while Morris will retire after a transition period.
BGRS’s parent company, Tokyo-based Relo Group reported on their website (May 12) that during 2021, BGRS had US$67.5 million revenue and an operating profit of $1.7m; SIRVA, meanwhile, announced revenue of $1.6 billion and adjusted EBITDA* of US$81.8m.
Relo Group said that with domestic competition becoming more intense, it would support overseas expansion, with aim of ‘creating an industry of comprehensive lifestyle support services that we provide globally.’
* Earnings before Interest, Taxes, Depreciation and Amortisation
