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Aurora Capital-backed Sirva files to raise $175m through IPO

31 Mar 2014

truck lorry_sqAurora Capital-controlled relocation services business Sirva has filed to raise $175m through an IPO.

The business, which is also backed by Equity Group Investments, has hired Morgan Stanley, Goldman Sachs and JP Morgan as lead underwriters for the public listing.

No details were given in a filing with the US securities regulator about which bourse the company would list its shares on.

The company provides corporate relocation services to businesses, government agencies and the military.

Its net income last year was $9.7m, a swing from the $1.4m loss in 2012. Revenues rose about two per cent in that time, to $1.99bn.

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