Sirva to Sell Logistics Unit

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irva Inc. said Friday that through its North American Van Lines subsidiary it has signed a definitive agreement to sell its transportation solutions business, Sirva Logistics, to an affiliate of Lake Capital Partners LP.

The company did not release the amount of the sale. Lake Capital is a Chicago-based private equity firm that invests in and supports the growth strategies of service-based businesses.

The new business will be named NAL Worldwide LLC, and Lake Capital will offer the approximately 600 Sirva employees comparable jobs upon the deal’s closing, Sirva said in a statement.

About 260 Sirva Logistics employees work in Sirva’s Fort Wayne, Ind., facility, while the remainder work across the United States and at its Westmont, Ill., corporate office.

In addition to the capital provided for the acquisition, Lake Capital will spend additional money to expand the business, Sirva said.

Sirva said the sale would further strengthen its focus on providing relocation services and that it expected the deal to close by July 31.

Sirva is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.