Stevenson completes the sale of The Secor Group

Stevenson Completes sale of The Secor Group

Result:    Business Sold to Strategic Buyer

Industry: Logistics – Moving & Storage, Relocation Services and Transportation

Stevenson & Company completed the sale of The Secor Group, headquartered in Washington, D.C., to The Suddath Companies, headquartered in Jacksonville, Florida.

Founded over 125 years ago, Secor is one of the nation’s oldest global logistics, moving and storage companies. Originally named Security Storage Company of Washington, the company has moved and stored the belongings of politicians, dignitaries and government employees throughout history. It has relocated many US Presidents to Washington D.C. including President Obama. Its nationwide and global moves operate under the United Van Lines and Mayflower flags. Over the years, Secor expanded its service offerings by acquiring a number of businesses. It now provides a full suite of logistics services including relocation management and global transportation. Its presence on the east coast includes nine warehouse locations.

Stevenson & Company was retained as sale advisor by the shareholders of The Secor Group. Suddath was identified as an attractive suitor since they operate in the same market sectors with little geographic overlap. Suddath was established in 1919 and has more than 2,000 employees, over 30 locations and 2.7 million sq. ft. of warehouse space throughout the United States.

“Joining forces makes tremendous business sense. We are both history-rich organizations that take moving personally each and every day whether its people, products or businesses” said Michael J. Brannigan, President and CEO of The Suddath Companies.

John D. Firestone, Secor Shareholder, commented: “Without the Stevenson team I don’t think we would hav