SIRVA: Difference between revisions

SIRVA, Inc.
Company type	Private
Industry	Mobility
Founded	1998
Headquarters	Oakbrook Terrace, Illinois, U.S.
Area served	Worldwide
Products	Relocation and Moving Services
Website	SIRVA.com

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Latest revision as of 07:13, 28 June 2024

SIRVA, Inc. (formerly Allied Worldwide), based in Oakbrook Terrace, Illinois, is a privately owned American moving industry holding company which resulted from the merger of Allied Van Lines with North American Van Lines. The corporate name was coined from the Latin word servire, "to serve."

The company was formed in 1999 when private equity company Clayton, Dubilier & Rice merged its Allied and North American businesses. In 2002, it traded on the New York Stock Exchange under its new SIRVA name with the ticker symbol of "SIR."

"In 2024 SIRVA has a downgraded credit rating from S&P global, with a very negative outlook regarding its financial stability and long term debt. Source: https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3164764"

History

In 1998, Clayton, Dubilier & Rice organized SIRVA to acquire North American Van Lines, Inc, one of the largest U.S. moving services companies by numbers of shipments, from Norfolk Southern Corporation. In 1999, the new firm acquired the Allied and Pickfords businesses from NFC plc, and was renamed Allied Worldwide. Several other acquisitions followed in 2002 and 2003. the firm recognized a trend with corporate customers outsourcing all aspects of an employee relocation to relocation service providers, including household goods relocation. As a result, the firm acquired the relocation services businesses of Cooperative Resource Services (CRS) in May 2002. Another relocation services provider acquisition, Rowan Simmons in the UK, followed later that year. The firm opened an office in Hong Kong in 2003 and acquired another relocation services provider, PRS Europe of Belgium, in 2003. SIRVA is unique in the industry in that it contains both relocation companies and moving companies under its aegis; its main competitors are one or the other.^[1]

On February 11, 2002 Allied Worldwide was renamed to SIRVA, Inc. The company announced its initial public offering, and its common shares became listed on the New York Stock Exchange under the symbol "SIR". During its first year as a public company in 2003, it reported operations in 40 countries with over 7,700 employees. Its network of service providers operated in 175 countries.^{[citation needed]} It had revenue of $2.35 billion and assets of $1.55 billion. It provided services to 38% of the Fortune 500 companies, among 2,500 corporate clients worldwide. It had 760 moving agents; these agents had a fleet size of 7,800 vehicles.^[2] During February 2008, the company entered bankruptcy and re-organized, emerging in May 2008 as a private company.^[3]

During 2011, the firm acquired Peninsular Properties in Hong Kong, a real estate company providing a full range of destination services. During 2012, it acquired Concept Mobility Services, a São Paulo, Brazil-based relocation and move management company. During 2013, it opened an office in Doha, Qatar under the brand Allied Pickfords.^[4]

SIRVA brands

Allied and North American Van Lines

SIRVA, Inc. is a combination of businesses with a long history. Allied Van Lines (AVL) was founded in 1928 and North American Van Lines (NAVL) was founded in 1933. Beginning in late 1964, NAVL created its STI (Specialized Transportation Inc.)|High Value Products Division (HVPD), which later was bought out from SIRVA and taken private as an independent company named Specialized Transportation Inc.^{[citation needed]}

On November 21, 1999, Clayton, Dubilier & Rice also completed their acquisition of Allied Van Lines and merged it with North American Van Lines to create 'Allied Worldwide, although each former company maintained its own profile names. Valued at approximately US$450 million in the merger, the combined entity became the world's largest relocation and van line logistics company.

Other events

On October 11, 2004, a group of 43 North American Van Lines' agents, named the Specialized Transportation Agent Group Inc., purchased NAVL's High Value Products Division from SIRVA. The buyers renamed the new company Specialized Transportation Inc. (STI).^{[citation needed]} On August 1, 2005, SIRVA sold its warehouse operation business to Lake Capital, a banking company. The business was named NAL Worldwide, a limited liability company in order to be a familiar sound to previous customers and anyone familiar with the old North American Logistics. NAL is chiefly involved in warehousing operations and logistics.

References

^ "The Premier House Removals - Schedule of moving out". Retrieved 2023-07-28.
^ SIRVA 2003 Annual Report-SEC Form 10K
^ "SIRVA Emerges from Bankruptcy (Press release)". Bloomberg. PRNewswire. May 12, 2008. Retrieved October 12, 2015.
^ "SIRVA Website-News & Events-Retrieved February 2014". Archived from the original on 2014-02-13. Retrieved 2014-02-05.

External links

[1] "The Premier House Removals - Schedule of moving out". Retrieved 2023-07-28.

[SIRVA2003-2] SIRVA 2003 Annual Report-SEC Form 10K

[3] "SIRVA Emerges from Bankruptcy (Press release)". Bloomberg. PRNewswire. May 12, 2008. Retrieved October 12, 2015.

[4] "SIRVA Website-News & Events-Retrieved February 2014". Archived from the original on 2014-02-13. Retrieved 2014-02-05.

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[2]

[3]

[4]

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+{{Short description|American moving industry holding company}}
-{{advert|date=October 2015}}
+{{for|the kind of injury|Shoulder injury related to vaccine administration}}
-{{citation style|date=October 2015}}
-{{cite check|date=October 2015}}
+{{More citations needed|date=August 2016}}
 {{Infobox company
 |name             = SIRVA, Inc.
-|logo		  = [[File:SIRVA, Inc. corporate logo.jpg|200px]]
+|logo		      = SIRVA, Inc. corporate logo.jpg
+|logo_size        = 200px
 |type             = [[Privately held company|Private]]
-|industry         = Technology & Business Process Outsourcing & Transportation
+|industry         = Mobility
 |foundation       = {{Start date|1998}}
 |location_city    = [[Oakbrook Terrace]], [[Illinois]]
-|location_country = [[U.S.]]
+|location_country = U.S.
 |area_served      = Worldwide
-|CEO              = Wes Lucas
 |products         = Relocation and Moving Services
 |homepage         = {{URL|http://sirva.com/en-us/|SIRVA.com}}
 }}
-'''SIRVA, Inc.''' (formerly '''Allied Worldwide'''), based in [[Oakbrook Terrace, Illinois]], is a privately owned [[moving industry]] holding company which resulted from the merger of [[Allied Van Lines]] with [[North American Van Lines]]. The corporate name was coined from the [[Latin]] word ''servire'', "to serve."  <ref>[http://www.militarymovers.co/transforming-traditional-moving-company-sirva-assembled-range-services-expertise/ TRANSFORMING ITSELF FROM A TRADITIONAL MOVING COMPANY,SIRVA ASSEMBLED A RANGE OF SERVICES AND EXPERTISE - pickfords.com]</ref>
+'''SIRVA, Inc.''' (formerly '''Allied Worldwide'''), based in [[Oakbrook Terrace, Illinois]], is a privately owned American [[moving industry]] holding company which resulted from the merger of [[Allied Van Lines]] with [[North American Van Lines]]. The corporate name was coined from the [[Latin]] word ''servire'', "to serve."
+The company was formed in 1999 when [[private equity]] company [[Clayton, Dubilier & Rice]] merged its Allied and North American businesses. In 2002, it traded on the [[New York Stock Exchange]] under its new SIRVA name with the [[ticker symbol]] of "SIR."
-SIRVA is a worldwide provider of relocation and moving solutions, providing more than 230,000 relocations per year to corporations, government employees, and individual consumers through its companies. SIRVA companies include Allied, Allied International, Allied Pickfords, DJK Residential, Global, northAmerican, northAmerican International, SIRVA Mortgage, SIRVA Relocation, SIRVA Move Management, SIRVA Global Relocation and SIRVA Settlement. Company services include home purchase and home sale services, household goods moving, mortgage services and home closing and settlement services.<ref>[http://sirva.com/en-us/news-events/news-release/2013/10/17/sirva-named-to-2013-informationweek-500-list-of-top-technology-innovators SIRVA named to 2013 Informationweek 500-October 27, 2013]</ref>
+"In 2024 SIRVA has a downgraded credit rating from S&P global, with a very negative outlook regarding its financial stability and long term debt. Source: https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3164764"
-The company was formed in 1999 when [[private equity]] company [[Clayton, Dubilier and Rice]] merged its Allied and North American businesses.  In 2002, it traded on the [[New York Stock Exchange]] under its new SIRVA name with the [[ticker symbol]] of "SIR."  Since 2008, the company has been privately held.
+==History==
-==Business overview==
+In 1998, Clayton, Dubilier & Rice organized SIRVA to acquire North American Van Lines, Inc, one of the largest U.S. moving services companies by numbers of shipments, from [[Norfolk Southern Corporation]]. In 1999, the new firm acquired the Allied and Pickfords businesses from [[National Freight Consortium|NFC plc]], and was renamed Allied Worldwide. Several other acquisitions followed in 2002 and 2003. the firm recognized a trend with corporate customers outsourcing all aspects of an employee relocation to relocation service providers, including household goods relocation. As a result, the firm acquired the relocation services businesses of Cooperative Resource Services (CRS) in May 2002. Another relocation services provider acquisition, Rowan Simmons in the UK, followed later that year. The firm opened an office in Hong Kong in 2003 and acquired another relocation services provider, PRS Europe of Belgium, in 2003. SIRVA is unique in the industry in that it contains both relocation companies and moving companies under its aegis; its main competitors are one or the other.<ref>{{Cite web |title=The Premier House Removals - Schedule of moving out |url=https://www.amazingmoves.co.uk/removals/house-removals.html |access-date=2023-07-28  |language=en}}</ref>
-SIRVA, Inc. is a global moving and relocation services (mobility) company. It operates under the North American Van Lines and Allied Van Lines brands in the U.S. and several other brands globally. SIRVA provides services in three distinct customer channels:<ref name="SIRVA2003">[http://www.getfilings.com/o0001047469-04-009593.html SIRVA 2003 Annual Report-SEC Form 10K]</ref>
-*Corporations that pay for the relocation of their employees
-*Governments that pay for the relocation of military and civilian personnel
-*Individual households that pay for their own relocation
+On February 11, 2002 Allied Worldwide was renamed to SIRVA, Inc. The company announced its [[initial public offering]], and its common shares became listed on the New York Stock Exchange under the symbol "SIR". During its first year as a public company in 2003, it reported operations in 40 countries with over 7,700 employees. Its network of service providers operated in 175 countries.{{citation needed|date=July 2023}} It had revenue of $2.35 billion and assets of $1.55 billion. It provided services to 38% of the Fortune 500 companies, among 2,500 corporate clients worldwide. It had 760 moving agents; these agents had a fleet size of 7,800 vehicles.<ref name="SIRVA2003">[http://www.getfilings.com/o0001047469-04-009593.html SIRVA 2003 Annual Report-SEC Form 10K]</ref> During February 2008, the company entered bankruptcy and re-organized, emerging in May 2008 as a private company.<ref>{{cite news|title=SIRVA Emerges from Bankruptcy (Press release)|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_L2dWBIOs6M|accessdate=October 12, 2015|work=Bloomberg|agency=PRNewswire|date=May 12, 2008}}</ref>
-==Products & services==
-SIRVA provides relocation and household goods moving products and services through a global network of service providers and agent moving companies.<ref name="SIRVA2006">[http://studio-5.financialcontent.com/edgar?accesscode=110465907051093#Item9a_ControlsAndProcedures_022420 SIRVA 2006 Annual Report]</ref> SIRVA also offer consumers a range of relocation services through employee programs provided by customers and member programs provided by associations and member service organizations. These services include real estate broker referrals, mortgage financing and moving services.<ref name="SIRVA2006" />
+During 2011, the firm acquired Peninsular Properties in Hong Kong, a real estate company providing a full range of destination services. During 2012, it acquired Concept Mobility Services, a São Paulo, Brazil-based relocation and move management company. During 2013, it opened an office in Doha, Qatar under the brand Allied Pickfords.<ref>{{Cite web |url=http://sirva.com/en-us/News-Events |title=SIRVA Website-News & Events-Retrieved February 2014 |access-date=2014-02-05 |archive-date=2014-02-13 |archive-url=https://web.archive.org/web/20140213162706/http://sirva.com/en-us/News-Events |url-status=dead }}</ref>
-===Moving Services North America===
-SIRVA provides interstate moving services, including household goods packing, storage and transportation services, throughout the United States and Canada.
-===Moving Services Europe and Asia Pacific===
-Through its multiple brands in Europe and the Asia Pacific region, SIRVA provides international household goods packing, storage and moving services. In Europe and the Asia Pacific region, SIRVA primarily provides household goods moving services, as well as office and industrial moving services, through a combination of company-operated locations, a proprietary agent network, and a network of affiliated preferred providers. SIRVA operates a majority of the fulfillment assets in the United Kingdom and the Asia Pacific regions. During 2006 and the first quarter of 2007, SIRVA disposed of a number of European owned properties, thereby shifting towards a less capital-intensive business model.<ref name="SIRVA2006"/>
-==SIRVA history==
+==SIRVA brands==
+{{Main|Allied Van Lines|North American Van Lines}}
-In 1998, Clayton, Dubilier & Rice organized SIRVA to acquire North American Van Lines, Inc, one of the largest U.S. moving services companies by numbers of shipments, from [[Norfolk Southern Corporation]]. In 1999, SIRVA acquired the Allied and Pickfords businesses from NFC plc. Several other acquisitions followed in 2002 and 2003. SIRVA recognized a trend with corporate customers outsourcing all aspects of an employee relocation to relocation service providers, including household goods relocation. As a result, SIRVA acquired the relocation services businesses of Cooperative Resource Services (CRS) in May 2002. Another relocation services provider acquisition, Rowan Simmons in the UK, followed later that year. SIRVA opened an office in Hong Kong in 2003 and acquired another relocation services provider, PRS Europe of Belgium, in 2003. SIRVA is unique in the industry in that it contains both relocation companies and moving companies under its aegis; its main competitors are one or the other.<ref name="SIRVA2003"/>
+;Allied and North American Van Lines
-On February 11, 2002 Allied Worldwide was renamed to SIRVA, Inc.<ref name="navlhist">[http://www.navl.com/AboutUs/Timeline.aspx NORTH AMERICAN VAN LINES HISTORY], navl.com</ref> SIRVA, Inc. announced its [[initial public offering]], and its common shares became listed on the New York Stock Exchange under the symbol "SIR".<ref name="navlhist"/> During its first year as a public company in 2003, SIRVA reported operations in 40 countries with over 7,700 employees. Its network of service providers operated in 175 countries. It had revenue of $2.35 billion and assets of $1.55 billion. It provided services to 38% of the Fortune 500 companies, among 2,500 corporate clients world-wide. SIRVA had 760 moving agents; these agents had a fleet size of 7,800 vehicles.<ref name="SIRVA2003">[http://www.getfilings.com/o0001047469-04-009593.html SIRVA 2003 Annual Report-SEC Form 10K]</ref>
+SIRVA, Inc. is a combination of businesses with a long history. Allied Van Lines (AVL) was founded in 1928 and [[North American Van Lines]] (NAVL) was founded in 1933. Beginning in late 1964, NAVL created its STI (Specialized Transportation Inc.)|High Value Products Division (HVPD), which later was bought out from SIRVA and taken private as an independent company named Specialized Transportation Inc.{{citation needed|date=July 2018}}
+On November 21, 1999, Clayton, Dubilier & Rice also completed their acquisition of [[Allied Van Lines]] and merged it with North American Van Lines to create  'Allied Worldwide, although each former company maintained its own profile names. Valued at approximately US$450 million in the merger, the  combined entity became the world's largest relocation and van line logistics company.
-SIRVA periodically acquires businesses to expand its service offering and global presence. During 2011, SIRVA acquired Peninsular Properties in Hong Kong, a real estate company providing a full range of destination services. During 2012, SIRVA acquired Concept Mobility Services, a São Paulo, Brazil-based relocation and move management company. During 2013, SIRVA announced it opened an office in Doha, Qatar under the SIRVA brand Allied Pickfords.<ref>[http://sirva.com/en-us/News-Events SIRVA Website-News & Events-Retrieved February 2014]</ref>
+;Other events
-==History of SIRVA brands==
+On October 11, 2004, a group of 43 North American Van Lines' agents, named the Specialized Transportation Agent Group Inc.,  purchased NAVL's High Value Products Division from SIRVA. The buyers renamed the new company Specialized Transportation Inc. (STI).{{citation needed|date=July 2018}}  On August 1, 2005, SIRVA sold its warehouse operation business to [[Lake Capital]], a banking company.  The business was named NAL Worldwide, a [[limited liability company]] in order to be  a familiar sound to previous customers and anyone familiar with the old North American Logistics.  NAL is chiefly involved in [[warehousing]] operations and [[logistics]].
-{{Main|Allied Van Lines|North American Van Lines}}
-===Allied and North American Van Lines===
-SIRVA, Inc. is a combination of businesses with a long history. Allied Van Lines (AVL) was founded in 1928 and North American Van Lines (NAVL) was founded in 1933. Beginning in late 1964, NAVL created its [[STI (Specialized Transportation Inc.)|High Value Products Division (HVPD)]], which later was bought out from SIRVA and taken private as an independent company named Specialized Transportation Inc.
-On November 21, 1999, Clayton, Dubilier and Rice also completed their acquisition of [[Allied Van Lines]] and merged it with North American Van Lines to create '''Allied Worldwide''', although each former company maintained its own profile names. Valued at approximately US$450 million in the merger, the Allied Worldwide combined entity became the world's largest relocation and van line logistics company.<ref name="navlhist" />
-===Other events===
-On October 11, 2004, a group of 43 North American Van Lines' agents, named the Specialized Transportation Agent Group Inc.,  purchased NAVL's High Value Products Division from SIRVA. The buyers renamed the new company [[Specialized Transportation Inc.]] (STI).<ref>[http://www.stidelivers.com/ Specialized Transportation Inc.]</ref>  On August 1, 2005, SIRVA sold its warehouse operation business to [[Lake Capital]], a banking company.  The employees who transferred to the new company were allowed to dub it NAL Worldwide, which is a [[limited liability company]].  The NAL doesn't stand for anything in particular, but it does beckon to a familiar sound to previous customers and anyone else familiar with the old North American Logistics.  NAL is chiefly involved in [[warehousing]] operations and [[logistics]].
 ==See also==
+* [[Relocation service]]
-*[[Relocation service]]
+* [[NorthStar Moving]]
 ==References==
 {{reflist}}
-== External links ==
+==External links==
-* [http://www.allied.com/ Allied Van Lines Moving Companies]
+*[http://www.sirva.com/ Official Website]
-* [http://www.northamerican.com/ North American Van Lines Moving Companies]
+*[https://www.flyttefirmaoslo.no/ Moving Agency]
-* [http://www.sirva.com/ Sirva]
-{{-}}
 {{Movers}}
 {{Illinois Corporations}}
+[[Category:Oakbrook Terrace, Illinois]]
+[[Category:2002 initial public offerings]]
 [[Category:Moving companies of the United States]]
-[[Category:Companies established in 1998]]
+[[Category:Transport companies established in 1998]]
 [[Category:Companies based in DuPage County, Illinois]]
-[[Category:Oakbrook Terrace, Illinois]]
+[[Category:Companies that filed for Chapter 11 bankruptcy in 2008]]
+[[Category:2008 mergers and acquisitions]]
+[[Category:2011 mergers and acquisitions]]

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