Graebel Companies and Reside Worldwide – a provider of short- and extended-stay accommodation – have joined forces under a common ownership deal.
The move combines Graebel’s workforce mobility and managed services with Reside’s short- and extended-stay accommodation offer, which includes the 3Sixty corporate housing marketplace platform. It is supported by Canadian private equity firm WestBridge Capital and ongoing investment from the Graebel family.
Graebel and Reside will continue to operate as separate businesses. Existing Graebel head Ron Dunlap will become CEO of the combined companies, and Reside co-founder Lee Curtis will join the leadership team.
A joint announcement by the two companies said: ‘As employee journeys become more dynamic and complex, organisations are evolving how they support their people, but the systems, providers and technologies supporting those experiences remain fragmented. Together, Graebel and Reside bring complementary strengths that will change the way moves are managed for companies and their employees, better reflecting today’s workforce and workplace.’
Dunlap said: ‘Where people live has such an impact on their work experience and success, whether it’s for a longer-term relocation or temporary deployment for a short-term project. Bringing Graebel and Reside together allows us to play a more meaningful role in the employee journey while extending the value we create for clients. It’s an important step towards simplifying complexity, reducing friction and helping organisations better support their people.’
Graebel said its clients would continue to work with their existing teams and contacts, with both businesses maintaining their current service commitments during the integration and aiming to work increasingly closer together in the future.
‘Bringing Reside’s 3Sixty corporate housing marketplace platform together with Graebel’s technology and service platform will simplify a critical part of the employee journey, helping people settle in and succeed more quickly,’ said Curtis. ‘This brings us closer to delivering the seamless, end-to-end experience employees increasingly expect.’
Bill Graebel said: ‘Transformation is in Graebel’s DNA and we’ve always sought change that will benefit our clients, their employees and the industry. Our family is supportive of this continued evolution of the company and we’re looking forward to working with Graebel leadership, Reside and Westbridge to realise this vision.’