2/6/2004
SIRVA Acquires Moving and Storage Insurance Program Administrator Move-Pak
CHICAGO, February 6, 2004 – SIRVA, Inc. (NYSE: SIR), a global relocation services provider, has acquired California-based Move-Pak, a major program administrator for moving and storage insurance. Move-Pak will operate within SIRVA’s Network Services business segment and will be renamed TransGuard General Insurance Agency, consistent with SIRVA’s existing TransGuard Group. Terms of the transaction were not disclosed.
Move-Pak’s senior management, led by Carole Boettcher and Kyle Custer, will remain in place and report to Susan Richardson, managing vice president of moving services for TransGuard.
“Move-Pak is a great strategic fit for TransGuard as it enables us to enhance our insurance services offering to moving agents across the U.S.,” said Larry Writt, president of TransGuard and president of SIRVA Network Services. “Carole and her team have done an outstanding job of establishing Move-Pak as one of the top insurance program administrators in the moving and storage industry, and we are fortunate to have them on board.”
“We have been providing customized insurance programs to moving and storage companies since our founding in 1983,” said Boettcher. “We are excited to be part of TransGuard and their growing commitment to the moving and storage industry’s total insurance needs.”
About TransGuard Group
TransGuard Group, a subsidiary of SIRVA, Inc., is a leading provider of insurance services to moving agents, small truck fleets, and owner-operators. More information about TransGuard and its services can be found at www.transguard.com.
About SIRVA, Inc.
SIRVA, Inc., majority owned by Clayton, Dubilier & Rice-managed funds, is a leader in providing relocation services to corporations, consumers and governments around the world. Operating in more than 40 countries with approximately 7,700 employees, SIRVA brands include SIRVA Relocation, Allied, northAmerican, Global, Pickfords (in the U.K.), Allied Pickfords (in Europe, Australia, New Zealand and Asia), and Maison Huet (in France). More information about SIRVA can be found on the Company’s Web site at www.sirva.com.
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