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EUROMOVERS International

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SIRVA, Inc. to acquire Realogy’s Cartus Relocation business

Nov 09, 2019
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 best-in-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.

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