Suddath Announces SBA Mentorship, Acquisition and Joint Venture with Endeavor IO
News
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November 8, 2023
Jacksonville, Fla. (November 8, 2023) – Suddath and Endeavor Initial Outfitting (Endeavor IO) announced today that the companies have joined the Small Business Association’s (SBA) Mentor-Protégé program. Suddath will mentor Endeavor IO to provide valuable business development and support. In tandem with the mentorship, Suddath will acquire a minority stake in Endeavor IO and launch a joint venture between the two organizations.
Endeavor IO provides healthcare facility outfitting services for complex government projects around the world. The company is led by retired Air Force Health Facility Project Officer, Mark Dias, who brings more than 18 years of experience in military facility outfitting management. Endeavor is a qualified service-disabled veteran owned small business and member of the SBA.
As a trusted mover for over 100 years, Suddath is a $800-million global transportation company with extensive experience in workplace solutions. Each year, Suddath’s specialized commercial services division relocates 135 million square feet of commercial real estate, manages $2.7 billion of customer assets, and serves almost 3,000 customers.
As part of the mentorship program, Suddath will provide Endeavor IO:
- Guidance on internal business management systems, accounting, marketing, manufacturing, and strategic planning
- Financial assistance in the form of equity investments, loans, and bonding
- Assistance navigating federal contract bidding, acquisition, and the federal procurement process
- Education about international trade, strategic planning, and finding markets
- Business development, including strategy and identifying contracting and partnership opportunities
- General and administrative assistance, like human resource sharing or security clearance support
The acquisition further solidifies Suddath’s commitment to support Endeavor IO.
“We are excited to welcome Endeavor IO to The Suddath Companies. There is an opportunity to provide our resources as a moving company with more than 100 years of experience and combine that with Endeavor IO’s expertise in the healthcare and government sector,” said Mike Brannigan, Suddath CEO.
Endeavor IO will continue to serve their customers under the same structure and brand.
In addition to the mentorship and acquisition, the organizations have partnered for a joint venture, Endeavor Suddath Solutions, which will bring both companies’ expertise to new markets while delivering competitive solutions backed by the strengths of each organization.
“Suddath’s capabilities as America’s largest commercial mover, including proprietary technology that offers more control over commercial projects, combined with Endeavor IO’s unique experience in the government healthcare sector enable Endeavor Suddath Solutions to provide agility and services tailored to our customers’ needs that are unmatched within the industry,” said Bob Papuga, Senior Vice President, Workplace Solutions, Suddath.
“The synergy between our businesses – Suddath as a transportation and warehousing powerhouse and Endeavor IO as experts in facility outfitting solutions – will bring our customers significant value and advantages, particularly as they relate to capacity and pricing,” said Mark Dias, Endeavor IO President and Founder.