Howard Kennedy advises on SIRVA acquisition of Team Relocations
The Howard Kennedy corporate team closed the hugely complex multi-jurisdiction transaction advising SIRVA on the acquisition of Team Relocations on 2 August. After almost a year following agreement of heads of terms, the key final trigger was reached late in the afternoon of 31 July (receipt of regulatory approval from the CSSF in Luxembourg).
The team advised SIRVA, a worldwide relocation and moving service, on the multi-jurisdictional acquisition of Team Relocations, which also involved a hive out of the Pickfords physical removals business in 7 jurisdictions. Further complexity was added when, in order to fund the transaction, SIRVA were themselves simultaneously acquired by Madison Dearborn Partners.
The Colts transaction became interconditional with the MDP deal which required our team to participate in a full review of the US merger documentation along with reviews of the US funding documentation which involved Barclays & JP Morgan and the securitisation led by Wells Fargo.
The team led by Jonathan Polin, included Claire Scanlon, Anastasia Demetriou, Ko Eun Choi, Ajay Fournillier, Gill White, Alexandra Johnstone, Robert Lands, Emily Clark, Leigh Sayliss, Karen Mortenson, Jessie Basra, Rebecca Davison, Patricia Scanlon, Kelly Thornton and John Heath
" great, great work by you and your team on an extraordinarily complex, and detailed transaction" Jeffrey Margolis Vice President & General Counsel, SIRVA
" Thanks Anastasia, Claire, Jonathan, Thanks for your hard work on behalf of Sirva. I feel we can all be proud of the efforts and the final result." Tim Romer, Group Managing Director, Team Relocations
" I wanted to add my personal congratulations to you, and to the entire Howard Kennedy team. I knew that your firm would do a superb job juggling a multi-headed monster of a transaction, and that expectation has now been confirmed." Christopher C. McCracken, Ulmer & Berne LLP
About Howard Kennedy
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors.
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