Sirva Buys Cartus Relocation
Sirva buys Cartus Relocation.
Sirva buys Cartus Relocation from Realogy for $400 million.
The addition of Cartus Relocation develops Sirva’s service and support capabilities, consistent with the firm's strategy to be wherever a client needs them. Cartus brings to Sirva a talented and experienced employee group and a robust supply chain to enhance Sirva's outstanding transfer experience. Cartus clients will enjoy access to Sirva's integrated household goods capacity, and a joint supply chain, where increased scale will drive down costs.
Tom Oberdorf of Sirva said: ‘This acquisition will offer clients broader choice, tremendous program flexibility, and a heightened pace of innovation. Sirva's clients will benefit from access to Cartus's well-established Broker Network, while Sirva's integrated household goods capacity will benefit Cartus customers. We believe the investments both companies have made in leading-edge technology solutions, exceptional client service delivery, and growth, will let us create the industry's most capable, knowledgeable, and accessible relocation management company to best serve our existing and future customers.
The winners in this transaction are undoubtedly our clients and their employees. 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 give our customers the best that each company has to offer, including best-in-class technology, a well-established Real Estate Broker network, an integrated household goods capacity, and a better 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.’
Ryan Schneider of Realogy said: ‘The sale of Cartus's Relocation business is part of Realogy's strategy to simplify and streamline our company as we strengthen and hone our value proposition. This transaction will let Realogy retain and focus on growing elements of the business that are critical to our value proposition, including our Affinity and other lead generation partnership programs, which benefit from our established Broker Network. It will also allow us to use net proceeds to reduce debt, reinvest in the business, and drive greater long-term value for our shareholders.’
Barclays Capital served as financial advisor to Realogy. Skadden, Arps, Slate, Meagher & Flom served as legal advisor.
Kirkland & Ellis served as legal advisor to Sirva.
Sirva buys Cartus Relocation from Realogy for $400 million.
The addition of Cartus Relocation develops Sirva’s service and support capabilities, consistent with the firm's strategy to be wherever a client needs them. Cartus brings to Sirva a talented and experienced employee group and a robust supply chain to enhance Sirva's outstanding transfer experience. Cartus clients will enjoy access to Sirva's integrated household goods capacity, and a joint supply chain, where increased scale will drive down costs.
Tom Oberdorf of Sirva said: ‘This acquisition will offer clients broader choice, tremendous program flexibility, and a heightened pace of innovation. Sirva's clients will benefit from access to Cartus's well-established Broker Network, while Sirva's integrated household goods capacity will benefit Cartus customers. We believe the investments both companies have made in leading-edge technology solutions, exceptional client service delivery, and growth, will let us create the industry's most capable, knowledgeable, and accessible relocation management company to best serve our existing and future customers.
The winners in this transaction are undoubtedly our clients and their employees. 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 give our customers the best that each company has to offer, including best-in-class technology, a well-established Real Estate Broker network, an integrated household goods capacity, and a better 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.’
Ryan Schneider of Realogy said: ‘The sale of Cartus's Relocation business is part of Realogy's strategy to simplify and streamline our company as we strengthen and hone our value proposition. This transaction will let Realogy retain and focus on growing elements of the business that are critical to our value proposition, including our Affinity and other lead generation partnership programs, which benefit from our established Broker Network. It will also allow us to use net proceeds to reduce debt, reinvest in the business, and drive greater long-term value for our shareholders.’
Barclays Capital served as financial advisor to Realogy. Skadden, Arps, Slate, Meagher & Flom served as legal advisor.
Kirkland & Ellis served as legal advisor to Sirva.
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