SIRVA, the Clayton, Dubilier & Rice portfolio company which was acquired by the US private equity firm in 1998, has completed the latest part of its international expansion with the acquisition of French removals and storage business Maison Huet.
The French firm, based in Versailles, is a major operator within the French market, with 1700 agents providing services to corporate and consumer clients. Maison Huet will combine with SIRVA’s other French entity, removals firm Allied Arthur Pierre, although it will retain its original branding.
The financial details for the transaction have not been disclosed, which is the latest in a series of transactions undertaken since 1998. CD&R originally acquired North American Van Lines in 1998, which it subsequently merged with Allied Van Lines a year later.
In February, a fund managed by Clayton, Dubilier & Rice, which owns 73 per cent of SIRVA, committed what was described as significant growth capital to fund a wide range of strategic initiatives, including acquisitions, in order to accelerate the company’s transformation into a global services provider and expand its value offering to customers.
The firm now has removals operations in France, UK, Australasia and Asia in addition to a broader range of services in the US, including insurance and employment outplacement services following the acquisition of Cooperative Resource Services in April.