Acquisitions stretch LI moving company's reach in Southeast
The Advance Group, a Farmingdale-based moving and logistics company, has extended its reach to the Southeast through the acquisition of two sister companies headquartered in Melbourne, Florida. Credit: The Advance Group
The Advance Group, a Farmingdale-based moving and logistics company, has extended its reach to the Southeast through the acquisition of two sister companies headquartered in Melbourne, Florida.
Terms of the deal for family-owned Sorensen Moving & Storage and Sorensen Logistics, which closed on March 31, were not disclosed.
The Advance Group, with 300 full-time equivalent employees, specializes in moving and logistics services for business clients, including office furniture installation and document management.
The private company hopes to tap the busy moving market between New York and retirement destination Florida by joining its Molloy Moving & Storage brand with Sorensen.
“The synergy between the two companies … is going to create an absolute powerhouse from the Northeast through the Southeast corridor," Anthony Parziale, chief executive of The Advance Group, said in a statement.
The company did not provide revenue data, but is "gunning for $100 million in combined revenue within the next five years," a spokeswoman said.
In addition to Farmingdale, Advance has facilities in Manhattan, Maspeth, Queens, and Harrison, New Jersey, with a combined 300,000 square feet in warehouse space.
Sorensen, with 150 full-time equivalent employees, has facilities in Melbourne and Orlando, Florida, with a combined 200,000 square feet in warehouse space.
Chris Sorensen will continue as president of the Sorensen brand, the companies said. His father, Scott Sorensen, who served as CEO of Sorensen Moving & Storage, will become a consultant to Advance Group executives.
Scott Sorensen said The Advance Group's character closely mirrors that of his company, making the acquisition seamless.
"Finding a strategic buyer that matched our culture, values and was willing to continue to cultivate what we have built was extremely important to me," he said in a statement.
Founded in 1979, The Advance Group undertakes complex moving jobs. For instance, auction house Christie's hired the company to organize and deliver about 4,000 pieces in the sale of Star Trek memorabilia from the archives of CBS and Paramount Studios.
The multimillion-dollar auction included spacecraft models, costumes and prop weapons.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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