Madison Dearborn Acquires SIRVA
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Madison Dearborn Acquires SIRVA

SIRVA Worldwide Relocation & Moving (SIRVA), a global relocation and moving services provider, has agreed to be acquired by Madison Dearborn Partners (MDP). SIRVA has been a portfolio company of Aurora Resurgence and Equity Group Investments since 2008.

SIRVA is a moving and relocation services company and provides for the interstate transportation of household goods throughout the United States and internationally. The company’s brand names include Allied Van Lines, North American Van Lines, and Allied Pickfords. SIRVA has 55 offices, 620 agent locations and more than 2,600 employees operating in 170 countries. The company is led by CEO Tom Oberdorf and is headquartered near Chicago in Oakbrook Terrace, IL (www.sirva.com).

SIRVA was formed by Clayton, Dubilier and Rice in 1999 when it merged North American Van Lines, which it had acquired in 1998, with Allied Van Lines and Pickford, which were both acquired from Norfolk Southern Corporation. In 2002 SIRVA went public and in 2008 the company entered bankruptcy and re-organized, emerging in May 2008 as a private company under Aurora Resurgence and Equity Group Investments ownership.

“This is an exciting time for SIRVA, and MDP is the ideal partner to help us accelerate our growth strategy,” said Mr. Oberdorf. “The firm has a long, successful track record of supporting companies like SIRVA. We look forward to working with MDP as we execute on our objectives to grow our business and enhance the value we provide our clients. I would also like to thank Aurora Resurgence and EGI for their support over the years in helping us build the tremendous company we have today.”

“As a leader in a dynamic and highly fragmented industry, SIRVA has a bright future,” said Richard Copans, a Managing Director at MDP. “With a strong brand, global footprint and impressive track record, SIRVA is well positioned to enter a new phase of growth and continued success. We look forward to bringing to bear our expertise and deep network of resources and contacts to help Tom Oberdorf and his leadership team build on SIRVA’s strong momentum and grow the business by continuing to provide the very best corporate relocation services available in the market.”

Madison Dearborn invests in privately held or publicly traded companies in the following sectors: basic industries; business and government software and services; financial and transaction services; health care; and telecom, media and technology services. In August 2016 the firm closed its seventh buyout fund at $4.4 billion. Madison Dearborn was founded in 1992 and is based in Chicago (www.mdcp.com).

Aurora Resurgence invests in the equity and debt securities of middle market companies that are involved in complex situations that arise from financial or operational challenges. Aurora Resurgence is headquartered in Los Angeles (www.aurorares.com).

Equity Group Investments (EGI) is the private investment firm founded by Sam Zell 50 years ago. The firm invests opportunistically across industries and geographies and throughout the capital structure. Current portfolio investments are in the energy, waste, manufacturing, transportation and logistics, media, healthcare, insurance, and real estate sectors. EGI is based in Chicago (www.egizell.com).

Goldman Sachs & Co. was the financial advisor to SIRVA.

© 2018 Private Equity Professional | May 24, 2018

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