Secor Group Acquires Majority Interest in Bolliger, Inc.

Secor Group to Launch New Global Mobility Services Company

WASHINGTON, April 6 /PRNewswire/ -- The Secor Group, a global mobility, logistics and transportation company, announced today a definitive agreement to acquire a majority interest in Bolliger, Inc., a 100-year-old international moving company headquartered in Connecticut.  The transaction will serve as the catalyst to launch Secor Group Mobility Services.   This new company will combine the service histories, operational resources, technology infrastructure, and industry expertise of Bolliger and Security International (a wholly-owned Secor Group subsidiary) as well as leverage the core competencies and broader services portfolio of other Secor Group companies to meet the changing needs of clients around the world.

"It's a rarity that two 100-year-old companies share such business synergies and alignment for growth," said Chuck Lawrence, CEO, the Secor Group.  "At a time when most in the moving and storage business have been slow to react to changing market conditions – and now find themselves ill-prepared to manage the economic issues confronting our industry – the Secor Group is maximizing its operational resources and solid financials to expand market share and accelerate growth by acquiring excellent companies like Bolliger."  

Although a number of acquisition targets were considered, Bolliger provided Secor Group the greatest opportunity to implement its strategic vision.  "Integrating Bolliger's market knowledge, global reach, and partner network with our operational capabilities and resources squarely positions us as an industry leader not only in volume but, also, service areas.  With this acquisition, we will be able to rapidly build a sustainable presence in new markets, better serve and resource existing customers, and aggressively pursue other strategic business opportunities," added Lawrence.

Clients of both Bolliger and Security International should expect greater service benefits and operational efficiencies as a result of the acquisition.  "This makes tremendous sense for our clients, shareholders, and employees," said Steve Gerard, CEO, Bolliger.  "It marks an unmatched opportunity for two mission-driven organizations to unify with a singular focus, preserve our identity and build upon a shared tradition of service, quality, and innovation, as well as pursue new avenues of growth, both internally and externally."

"We've always gone the extra-mile to offer the best service to our clients.  With this acquisition and the follow-on launch of RedSky™, a state-of-the-art information and mobility management system, we will deliver a level of service integration, transparency, choice and efficiency not seen anywhere else in the industry," said Ray DaSilva, President Mobility Services, Secor Group.  "This is only the beginning."

Both companies' Boards of Directors have approved the acquisition.

About Secor Group:

The Secor Group is a global mobility, logistics and transportation company.  Headquartered in Washington, DC, the Secor Group's roots date back 120 years to the oldest storage company in our nation's capital – Security Storage Company.  Founded more than a century ago, the Secor Group has emerged as an international leader, with fourteen transportation and storage companies under its corporate umbrella.  From global mobility services to logistics management, office moving to heavy freight hauling to large scale storage of more than 1 million square feet, the Secor Group companies comprise every aspect of the industry.  In everything we do, we are accountable, ambitious, responsible, engaged with customers and ready for change.  These are the principles upon which we build our business – to be commercially astute, to accelerate innovation and minimize environmental impact, to earn competitive returns and contribute to our clients' prosperity – and, it is in our outstanding people in which these ideals live.  The Secor Group company portfolio includes: Security Storage Company, Federal Forwarding, Federal Moving and Storage, Security International, Security International Logistics, DD&S Express, DD&S Brokerage, Davidson Transfer and Storage, Davidson Forwarding, JVSS, A Alpha, RedSky LLC, and – now – Bolliger.  For more information, visit:  www.secor-group.com

About Bolliger:  

Bolliger is the most trusted name in international household goods moving in the tri-state (NY, CT, and NJ) area.  Over 100 years old, it is a venerable institution in the New York metropolitan marketplace known for its high quality service and excellent accounts.  Since 1909, many of the world's leading news media, financial and pharmaceutical businesses have placed their employees' possessions in our hands – and, we have delivered them safely from Shanghai to Stockholm, Santiago to Sydney.  For more information, visit:  www.bolliger.net

SOURCE Secor Group