"This acquisition is the largest and perhaps most impactful in the history of the company," Suddath CEO says.
Jacksonville-based The Suddath Companies announced April 1 the acquisition of Daryl Flood Inc.
Like Suddath, DFI is a moving and logistics company. It is based in Coppell, Texas, near Dallas.
The sale, effective March 31, includes all of DFI’s operating companies, including Daryl Flood Relocation Inc., Daryl Flood International Inc., Dependable Relocation Services Inc., Daryl Flood Workplace Services Inc., Daryl Flood Logistics Inc. and VERSA Relocation Inc.
DFI, established in 1982, has 15 locations with nearly 1 million square feet of warehouse space.
“Having started our business 39 years ago, it was very important to me to have a succession plan in place that gives our employees opportunities and provides the business a path for continued growth and expansion,” said DFI Chairman and CEO Daryl R. Flood in a news release.
“In Suddath, we have found a buyer who can help accomplish our long-term strategic plans, while sharing similar values, culture and a passion for delivering exceptional customer experiences.”
Suddath says it is the largest commercial mover and military relocation company in North America.
“This acquisition is the largest and perhaps most impactful in the history of the company,” said Suddath President and CEO Michael Brannigan in the release.
“With our similar and complementary business lines, we see tremendous synergies in our business for accelerating growth and further enhancing solutions for customers.”
Suddath said the combined companies will have 45 U.S. and international locations with nearly 4 million square feet of warehouse space.
“The strong reputation of the Daryl Flood brand in household goods moving, commercial moving and global mobility only further enhances our already strong market position in those business lines,” Brannigan said.
“We also see great opportunity to accelerate growth by leveraging DFI’s focus on customer experience and its Texas footprint with Suddath’s proprietary technology, customer relationships and national capabilities.”
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