On 20 August, Relocation Management Company Sirva Worldwide, Inc announced that it has completed a transaction with the support of its lenders and equity sponsors, Madison Dearborn Partners and Relo Group. The company said that this transaction strengthens the company’s balance sheet and provides it new liquidity, supporting its continued growth and innovation and enabling further investment in its technology, employees, and ability to serve customers.
The company’s new owners include: KKR Credit Advisors (US) LLC, Evolution Credit Partners, BlackRock Financial Management, Inc and Indaba Capital Management, LP. Its operational and leadership teams remain unchanged.
Tom Oberdorf, CEO, Sirva, said, “This is a great day and outcome for Sirva, our customers, and our employees. Having the support of these experienced investors positions us to capitalise on the tremendous opportunity we see ahead for our business and enables us to continue enhancing growth in our industry-leading mobility businesses. We remain confident in our ability to drive performance and innovation for all our stakeholders, including our clients, employees, van line agents, and suppliers.”