“This new investment and partnership is a very exciting opportunity for myself and our fantastic management team to both consolidate and nurture our existing long-term client relationships as well as attract and develop new clients. Many thanks to the Cavendish team who provided invaluable advice throughout the process and helped us achieve this great outcome for the...John Stevenson | CEO ACT Clean
The Cavendish team worked seamlessly with their international partners to find the right buyer and guide us through every step of the sale process. This is a great outcome for both the shareholders and ongoing management team. We would happily recommend Cavendish to other business...Ben Lane | Co-founder of ALC
“We have thoroughly enjoyed working with the Cavendish team. Caroline, Andrew and Eimear offered us unstinting support and valuable advice throughout the transaction. They were instrumental in helping us achieve this...Mark Rijkse | Shareholder and director of SMA
“Cavendish handled the transaction with elegance and efficiency. They were proactive, everything kept to time and we completed as planned, less than six weeks after agreeing the heads of...Rupert Morley | CEO of Sterling Relocation
“TM Capital and Cavendish worked seamlessly to evaluate the best possible alternatives for 2Touch and navigate the complexities of a cross-border corporate divestiture to deliver a successful outcome for all parties. We appreciate the senior level commitment from TM and Cavendish and their relentless dedication in completing this important...David Eisenberg | SVP Strategy and Corporate Development, Acxiom Corporation
“Thank you so much for the hard work you put into our sale. “We are delighted with the result both personally and for the company. We now have some work to do in maximising the benefits of the deal to both parties. Your support during the deal was excellent and helped us go through a process that was completely new to us. It seemed to go very smoothly and I know that much of that was due...Mike Shorthose|Chairman and Co-Founder – Helios
“Cavendish took the time to really understand our business enabling them to have a professional and well thought out approach to the deal. They assisted immensely with the due diligence process this being reflected in the depth of information needed at times along with the need to carefully manage the numerous requests for information. They provided the kind of support which in the process...Anthony French | IT & Finance Director, First City Care
“I was delighted with the service that Cavendish offered and their real attention to detail. The deal was not without its complexities and it was reassuring to have Paul and his team assisting me throughout the...Peter Bennett|Co-Founder of Timothy James
“Cavendish Corporate Finance has been integral to the establishment of the New College of the Humanities, providing both valuable advice and managing a successful fundraising process that has enabled us to have a stellar founding shareholding group that provides not just capital but also experienced investors who will help NCH succeed and...Charles Watson|Chairman of NCH
Cavendish Corporate Finance, the UK’s top sell-side mid-market M&A firm, has advised on the sale of Sterling, Europe’s largest independent moving and relocation business, to UniGroup, a $1.7 billion US-based global leader in transportation and relocation services.
UniGroup and Sterling represent one of the largest global networks of relocation and moving services, with 27 regional offices and more than 1,000 local service providers in more than 180 countries on six continents.
Sterling, founded in London over 20 years ago, offers a broad array of relocation services to some of the world’s leading companies including major investment banks and professional services firms, among others. The company’s offices are located in the UK, France, Germany, Switzerland, Spain, Asia and the USA.
Headquartered in St Louis, in the US, UniGroup has provided global relocation services for over 60 years and continues to expand, particularly in Asia, where it has moving and storage facilities in Singapore, Hong Kong, China, Malaysia, Thailand, Vietnam, and the Philippines.
The acquisition of Sterling will provide UniGroup with a full range of relocation consulting, assignment management, immigration, destination and supply chain management services to better meet its clients’ needs, while UniGroup provides Sterling with resources to expand its capabilities and service offerings.
Former owners Rupert Morley and Jeremy Beglin will continue to serve as Sterling’s President and Vice President of Sales and Business Development respectively, for UniGroup global relocation services.
Cavendish, which advised Sterling, has so far completed nine deals in 2014. Its previous Business Services deals include: TCL Holdings, Helios and First City Care among others.
James Ellis, Associate Director at Cavendish, who led the transaction, commented:
“The transaction is an excellent strategic fit for both companies. The combined capabilities of both Sterling and UniGroup will provide blue chip clients and individual assignees with the depth of service offering and international reach to meet their range of needs across the globe. This is yet another example of Cavendish managing a highly successfully sales process to an overseas strategic buyer and we have seen an accelerating trend over the first half of this year of foreign buyers looking to acquire growing UK businesses.”
Rupert Morley, CEO of Sterling Relocation, commented:
“Cavendish handled the transaction with elegance and efficiency. They were proactive, everything kept to time and we completed as planned, less than six weeks after agreeing the heads of terms.