BGRS Group’s Business Combination With SIRVA Group

Davis Polk & Wardwell and Mori Hamada & Matsumoto advised Relo Group, Kirkland and Ellis advised SIRVA on the deal.

BGRS Group and SIRVA Group have entered into a definitive agreement to combined into an entity to be initially named SIRVA-BGRS Holdings, Inc. The BGRS Group, which is wholly owned by Relo Group, will be transferred to the SIRVA Group in exchange for preferred stock representing an approximately 23% stake in SIRVA-BGRS. The transaction is expected to close within the next 90 days subject to customary closing conditions.

Relo Group is the first company in Japan to commercialize relocation services and provides comprehensive support for corporate housing, fringe benefit services and support for the global expansion of Japanese companies.

BGRS develops and implements comprehensive talent mobility solutions for corporate and government clients worldwide, with more than 1,300 people across six continents and service coverage in 185 countries.

SIRVA is a global leader in moving and relocation services, offering solutions for mobility programs to companies of every size, with 59 owned locations and more than 1,000 franchised and agent locations servicing 177 countries. SIRVA is owned by funds managed by Madison Dearborn Partners, LLC.

The Davis Polk corporate team included partner Ken Lebrun (Picture) and associate Paul Lee. The tax team included partner Michael Mollerus and associate Benjamin Helfgott. Partner Kyoko Takahashi Lin and Kerri Thompson provided executive compensation advice. Partner Paul D. Marquardt provided CFIUS and international trade advice. Partner Ronan P. Harty and counsel Suzanne Munck af Rosenschold provided HSR advice. Partner Frank J. Azzopardi provided intellectual property advice.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Ronan Harty – Davis Polk & Wardwell; Benjamin Helfgott – Davis Polk & Wardwell; Ken Lebrun – Davis Polk & Wardwell; Paul Lee – Davis Polk & Wardwell; Paul Marquardt – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Suzanne Munck af Rosenschold – Davis Polk & Wardwell; Kyoko Takahashi Lin – Davis Polk & Wardwell; Kerri Thompson – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Relo Group;