Sirva Worldwide completed a transaction with the support of the company’s lenders and equity sponsors, Madison Dearborn Partners and Relo Group. This transaction strengthens the company’s balance sheet and provides the company with new liquidity, supporting Sirva’s continued growth and innovation and enabling further investment in the company’s technology, employees and ability to serve customers._x000D_
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Through the transaction, the company’s new ownership group is led by certain credit funds and accounts managed by KKR Credit Advisors (U.S.), Evolution Credit Partners, BlackRock Financial Management and affiliates thereof and Indaba Capital Management. Sirva’s operational and leadership teams remain in place and will continue to focus on exceptional delivery._x000D_
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“This is a great day and outcome for Sirva, our customers and our employees,” Tom Oberdorf, CEO of Sirva, said. “Having the support of these experienced investors positions us to capitalize 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.”_x000D_
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Kirkland & Ellis served as legal advisor, Centerview Partners served as investment banker and Ankura Consulting Group served as financial advisor to Sirva. Paul Hastings served as legal advisor and Lazard Freres served as investment banker to an ad hoc group of first lien and second lien term loan lenders.
Forward for Specialty Finance
