5/3/2004
SIRVA Acquires German Moving Services Market Leader Rettenmayer
LONDON, May 3, 2004 — SIRVA Inc., (NYSE: SIR), a global relocation services provider, has announced the acquisition of the German moving services and relocation businesses of Rettenmayer Internationale Umzugslogistik GmbH, after receiving clearance from the German Cartel Office on 30 April 2004. Rettenmayer will join SIRVA’s other leading European brands such as Pickfords, Allied, Kungsholms, Maison Huet and ADAM.
The acquisition will provide SIRVA with an expanded footprint on the European continent and enhance its global “Relocation Redefined” offering, providing customers with a complete package of relocation, moving and related services. Rettenmayer was seen as an ideal fit because it also complements SIRVA’s existing businesses in Central and Eastern Europe.
“Germany is the third largest moving market worldwide after the United States and Japan, and is therefore a key growth target for us,” said David Nicol, president Europe and Asia Pacific - SIRVA. “Rettenmayer is recognized as the clear market leader in international moving and will provide synergies with SIRVA’s operations across Europe.”
The announcement underlines SIRVA’s commitment to growth and follows on from the recent acquisition of PRS Europe in Belgium. Terms of the transaction were not disclosed.
Headquartered in Wiesbaden, Rettenmayer has a strong network of offices across Germany. It is privately owned and specializes in corporate international moving as well as inbound destination services for numerous large companies such as Siemens, Bosch and the major German banks.
Herr Dr. Hans Bovermann, who has extensive industry experience, will remain associated with the business on a consultancy basis. Frau Dr. Anke Bovermann and Herr Jan Bovermann will become permanent members of the SIRVA team and will continue as Managing Directors of Rettenmayer. “Becoming part of SIRVA will enhance our leadership position in the German market, allowing us to provide a broader range of services to our valued customer base and to continue to attract new customers with our enhanced service offering,” said Hr. Dr. Hans Bovermann. “We look forward to benefiting from the affiliation with the world’s leading relocation services provider.”
About Rettenmayer Rettenmayer GmbH is an independent moving services company, providing both domestic and international moving services to corporate clients and individual consumers in both the public and private sectors. Founded more than 150 years ago and wholly owned by the Bovermann family, Rettenmayer has 200 employees and a fleet of 55 vehicles. Its head office is located in Wiesbaden, Germany which services a further nine offices across the country.
About SIRVA, Inc.
SIRVA, Inc. is a leader in providing relocation solutions to a well-established and diverse customer base around the world. The company is one of the leading global providers that can handle all aspects of relocations end-to-end within its own network, including home purchase and home sale services, household goods moving, mortgage services and insurance. SIRVA conducts more than 365,000 relocations per year, transferring corporate and government employees and moving individual consumers. The company operates in more than 40 countries with approximately 7,700 employees and an extensive network of agents and other service providers. SIRVA’s well-recognized brands include Allied, northAmerican, Global, and SIRVA Relocation in North America; Pickfords in the U.K.; Maison Huet in France; Kungsholms in Sweden; ADAM in Denmark; Majortrans Flytteservice in Norway; Arthur Pierre in Belgium; and Allied Pickfords in the Asia Pacific region. More information about SIRVA can be found on the company’s Web site at www.sirva.com.
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