The only thing that stays constant is change. And change is in the air for SMARTBOX Portable Storage. They announced yesterday that SIRVA Worldwide, Inc., acquired the Virginia-based portable moving and storage services company.
Bryan Bostic, CEO and founder of SMARTBOX, stated that he is excited to join the SIRVA family. He feels that SMARTBOX fills a gap that SIRVA has in its product offerings and feels that SMARTBOX will integrate very well with their current suite of offerings.
In 2002, Bostic got an idea about creating an easier moving and storage option that was better than what was available at the time. For a year, he investigated the storage solutions to determine what customers wanted and needed. He developed the SMARTBOX system.
He set up two test locations – one in Richmond, Virginia, and the other in Fredericksburg. Customer response was overwhelming. Residential and business customers loved to have the storage containers delivered to their door so they could pack it at their convenience.
After hundreds of people rented a SMARTBOX and gave them rave reviews, Bostic realized his idea was a viable business idea, one that had potential to grow quickly on a large scale. So, he created a limited liability corporation and started selling franchises.
By the end of 2004, SMARTBOX had signed four franchise agreements and had three locations open. Today, they have 19 franchise locations throughout the United States. They serve nearly 100 million people and offer long distance moving services to 75 major metropolitan areas.
In 2008, SMARTBOX looked for ways to expand. They purchased Big Box Storage on the West Coast and brought it into their portfolio.
Once again, looking for ways to expand his business, Bostic began looking for a potential buyer last year. He wanted a partner that would help grow the business. Bostic feels that SIRVA is the perfect partner to do this.
SIRVA and Bostic finalized the deal on Monday. Financial terms were not disclosed. SIRVA will not rename the franchise. The name ‘SMARTBOX’ will be kept as the brand name for the franchises.
Bostic will continue to own the company’s franchise in Richmond and he will be an employed consultant to SIRVA. SMARTBOX corporate employee, Dusty Rhodes, will stay on as a vice president with SIRVA. He will be over the new division that SMARTBOX creates for SIRVA.
SIRVA Worldwide, Inc. is a leading worldwide provider of relocation and moving solutions. Their focus is helping corporations, government employees, and individual families with their relocation needs. They are established in 170 countries.
“SIRVA Acquires Self-Move, Self-Storage Franchisor.” Digital Journal; 11 March 2014.
“Richmond storage firm moving to new ownership,” Richmond Biz Sense; 12 March 2014.