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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment No. 3)*
SIRVA, INC.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
82967Y104
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(CUSIP Number)
Allison Bennington, Esq.
ValueAct Capital
435 Pacific Avenue, Fourth Floor
San Francisco, CA 94133
(415) 362-3700
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(Name, address and telephone number of Person
Authorized to Receive Notices and Communications)
Christopher G. Karras, Esq.
Dechert LLP
Cira Centre
2929 Arch Street
Philadelphia, PA 19104-2808
(215) 994-4000
June 27, 2007
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
This information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 2 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Master Fund, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
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10. SHARED DISPOSITIVE POWER
27,140,987**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 3 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
VA Partners, L.L.C.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,140,987**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 4 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Management, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,140,987**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 5 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Management, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,140,987**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 6 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Jeffrey W. Ubben
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,140,987**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
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14. TYPE OF REPORTING PERSON
IN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 7 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
George F. Hamel, Jr.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,140,987**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
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14. TYPE OF REPORTING PERSON
IN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 8 of 14
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Peter H. Kamin
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 51,329,322**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,140,987**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
51,329,322**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.6%
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 9 of 14
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THE PURPOSE OF THIS AMENDMENT NO. 3 IS TO AMEND THE OWNERSHIP PERCENTAGES
AND SHARES OF THE REPORTING PERSONS AND TO AMEND AND RESTATE ITEM 3 AND
ITEM 5 AND AMEND ITEM 6. THE INFORMATION BELOW SUPPLEMENTS THE INFORMATION
PREVIOUSLY PROVIDED.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of funds used for the purchase of the Issuer's securities
was the working capital of ValueAct Capital Master Fund, L.P. ("ValueAct
Master Fund"). The aggregate funds used by these Reporting Persons to make
the purchases were $84,406,794.60 (including funds used for the purchase of
the Amended Note (as defined and described in Item 6 hereof)). The deferred
stock referenced in Item 5 hereof that was issued to Peter H. Kamin was
issued in consideration of Mr. Kamin's service on the Issuer's Board of
Directors and without the expenditure of funds by these Reporting Persons.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As of the date hereof, ValueAct Master Fund is the owner of record of
7,131,900 shares of Common Stock, representing 7.6% of the Issuer's 93,973,602
outstanding shares of Common Stock.?However, as of the date hereof, ValueAct
Master Fund may be deemed to be the beneficial owner of 51,329,322 shares of
Common Stock, representing approximately 54.6% of the Issuer's outstanding
Common Stock, as more fully described in the following paragraphs of this
Item 5. ?In addition, VA Partners, ValueAct Management L.P., ValueAct
Management LLC and the Managing Members (collectively, the "Joint Filers") may
each be deemed the beneficial owner of an aggregate of 51,329,322 shares of
Common Stock, representing approximately 54.6% of the Issuer's outstanding
Common Stock.
Of the?51,329,322 shares of Common Stock reported as beneficially owned by
ValueAct Master Fund on this Schedule 13D, 17,085,837 shares are owned of
record by Clayton, Dubilier & Rice Fund V Limited Partnership ("Fund V") and
7,102,498 shares are owned of record by Clayton, Dubilier & Rice Fund VI
Limited Partnership (collectively, the "CD&R Shares" and together with Fund
V, the "CD&R Entities").? Solely as a result of the Voting Agreement dated
September 29, 2006 entered into by and among ValueAct Master Fund and the
CD&R Entities, ValueAct Master Fund and the Joint Filers may be deemed to
beneficially own the CD&R Shares.??The Voting Agreement, described in Item 6,
memorializes the CD&R Entities' obligation to vote in favor of the conversion
of the Amended Notes into the Issuer's Convertible Perpetual Preferred Stock,
as described in Item 4. All dispositive power and pecuniary interest in the
CD&R Shares are held by the CD&R Entities.?
The?51,329,322 shares of Common Stock reported as beneficially owned by
ValueAct Master Fund on this Schedule 13D includes 20,000,000 shares of
Common Stock (the "Conversion Shares") issuable to ValueAct Master Fund at
any time upon conversion, at its option, of the 60,000,00 shares of
Convertible Preferred Stock that ValueAct Master Fund would be issued upon
the Exchange (defined below) if the requisite shareholder approval is
obtained. As of the date hereof, the Issuer has not solicited proxies to
approve the conversion of the 12% Senior convertible note, due June 1, 2011
into Convertible Preferred Stock (the "Exchange"), and there is no assurance
that the shareholders will approve the Exchange within 60 days from the date
hereof, or at all.
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 10 of 14
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The 51,329,322 shares of Common Stock reported as beneficially owned by
ValueAct Master Fund on this Schedule 13D includes 9,087 shares of Common
Stock issuable to a Peter H. Kamin, a Managing Member, upon conversion of
deferred stock granted to Mr. Kamin for serving on the Issuer's Board of
Directors. Under an agreement with ValueAct Master Fund, Mr. Kamin is deemed
to hold the deferred stock for the benefit of ValueAct Master Fund, and
indirectly for (i) VA Partners, L.L.C. as General Partner of ValueAct Master
Fund (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Master
Fund and (iii) ValueAct Capital Management, LLC as General Partner of
ValueAct Capital Management, L.P. ValueAct Master Fund and the Joint Filers
disclaim beneficial ownership of the 9,087 shares except to the extent of
their pecuniary interest therein.
ValueAct Master Fund and the Joint Filers disclaim beneficial ownership of
the CD&R Shares and the Conversion Shares pursuant to Rule 13d-4 under the
Securities Exchange Act of 1934, as amended (the "Act"), and the inclusion of
CD&R Shares and the Conversion Shares in this report shall not be deemed as
admission of beneficial ownership of the reported securities for purposes of
Section 13(d) or 13(g) of the Act or for any other purposes.
The aggregate percentage of shares of Common Stock owned by each person named
herein is based upon 93,973,602 shares, which is the sum of (i) 73,964,515
shares of Common Stock outstanding as of April 30, 2007, as reported in the
Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission on May 4, 2007, (ii) 20,000,000 shares of Common Stock issuable to
ValueAct Master Fund at its option subsequent to an Exchange and (iii) 9,087
shares of deferred stock owned of record by Mr. Kamin issuable upon the
conversion of deferred stock into 9,087 shares of Common Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDING, OR RELATIONSHIPS WITH
RESPECT TO THE SECURITIES
On June 27, 2007, ValueAct Master Fund and MLF, the holders of the Issuer's
10% senior convertible notes (the "10% Note"), and the Issuer agreed to amend
the terms of the 10% Note. The amended note (the "Amended Note") accrues
interest on the unpaid principal at a rate of 12% per annum, starting on June
1, 2007. Interest is payable on the Amended Notes quarterly in arrears on
March 1, June 1, September 1 and December 1 of each year, beginning on
September 1, 2007. All interest is paid in the form of shares of the Issuer's
Common Stock at a conversion rate equal to the lesser to the lesser of (a)
$2.00 per share or (b) the fair market value per share, in each case rounding
down to the next whole share amount.
The Amended Note matures on June 1, 2011 and automatically converts into
75,000 shares of the Issuer's Convertible Preferred Stock upon stockholder
approval of the conversion of the Amended Note and related issuance of
Convertible Preferred Stock (the "Conversion Event"). ValueAct would be
issued 60,000 shares of Convertible Preferred Stock upon a Conversion Event.
The 10% Note had provided for an additional 2.0% of interest to be paid if
the Conversion Event did not occur before May 31, 2007. Due to the increase
in the interest rate to 12.0%, the Amended Note no longer provides for the
payment of additional interest if a Conversion Event does not occur by a
specific date. All other terms of the 10% Note remain unchanged. For a
description of the other terms of the Notes, see the Issuer's Current Report
on Form 8-K filed with the "SEC" on September 29, 2006.
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 11 of 14
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In addition, on June 27, 2007, the Issuer, ValueAct and MLF Offshore
entered into Amendment No. 1 to the Registration Rights Agreement (the
"Registration Rights Amendment"), dated as of September 29, 2006, among the
Issuer, ValueAct and MLF Offshore. The Registration Rights Amendment, among
other matters, amends the definition of "Registrable Securities" to include
any shares of SIRVA's common stock that are issued as interest payments on
the Amended Notes. The Registration Rights Amendment also amends the
definition of "Filing Deadline" to require the Issuer to file a registration
statement on the earlier of (a) 60 days after the date the Amended Note is
converted into the Convertible Preferred Stock or (2) 60 days after the
Issuer has filed all materials required to be filed pursuant to Sections 13,
14 or 15(d) of the Securities and Exchange Act of 1934, as amended, for a
period of at least twelve calendar months. Other changes included in the
Registration Rights Amendment are to reflect the terms of the Amended Note.
All other terms of the Registration Rights Agreement remain unchanged. For a
description of the other terms of the Registration Rights Agreement, see the
Issuer's Current Report on Form 8-K filed with the SEC on September 29, 2006.
In connection with the issuance of the Amended Note, the Issuer also
amended and restated the Certificate of Designations (the "Amended
Certificate of Designations") for its Convertible Preferred Stock. As under
the original Certificate of Designations, the initial liquidation preference
($1000 per share) of the Convertible Preferred Stock is convertible into
shares of the issuer's common stock, at the option of the holder, at an
initial conversion price of $3.00 per share. Under the Amended Certificate of
Designations, if the Issuer is unable to pay dividends on the Convertible
Preferred Stock on a dividend payment date, the liquidation preference of the
shares will be increased by the accretion amount in respect of the unpaid
dividends and that accreted amount will be convertible into shares of Common
Stock at a conversion price equal to the lesser of (a) $2.00 per share or (b)
the fair market value per share, in each case rounding down to the next whole
share amount. If the Issuer accreted any dividends in the immediately prior
dividend payment date, dividends that accrue between such dividend payment
date and a conversion date will also be convertible into shares of Common
Stock at a conversion price equal to the lesser of (a) $2.00 per share or (b)
the fair market value per share. Otherwise such dividends will be converted
at the conversion price of $3.00 per share. The Convertible Preferred Stock
that would be issued upon conversion of the Amended Note purchased by
ValueAct would initially be convertible, at the option of ValueAct, into
20,000,000 shares of Common Stock. All other terms of the Convertible
Preferred Stock remain unchanged. For description of the other terms of the
Convertible Preferred Stock, see the Issuer's Current Report on Form 8-K
filed with the SEC on September 29, 2006.
The description of the Amended Notes, the Amended Certificate of Designations
and the Registration Rights Amendment set forth above is qualified in its
entirety by reference to the actual terms of the documents, which are
attached as exhibits 4.1, 3.1 and 10.3 to the Issuer's Current Report on Form
8-K filing dated June 27, 2007 and are incorporated herein by reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
A) Joint Filing Agreement
SCHEDULE 13D
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CUSIP NO. 82967Y104 Page 12 of 14
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SIGNATURE
After reasonable inquiry and to the best of his knowledge and belief, the
undersigned certifies that the information set forth in this statement is
true, complete and correct.
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears
below on this Schedule 13D hereby constitutes and appoints Jeffrey W. Ubben,
George F. Hamel, Jr. and Peter H. Kamin, and each of them, with full power to
act without the other, his or its true and lawful attorney-in-fact and agent,
with full power of substitution and resubstitution, for him or it and in his
or its name, place and stead, in any and all capacities (until revoked in
writing) to sign any and all amendments to this Schedule 13D, and to file the
same, with all exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorneys-in
fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary fully to all intents and
purposes as he or it might or could do in person, thereby ratifying and
confirming all that said attorneys-in-fact and agents or any of them, or
their or his substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
ValueAct Capital Master Fund L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
VA Partners, L.L.C.
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, L.P., by
ValueAct Capital Management, LLC its
General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, LLC
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
SCHEDULE 13D
-------------------------- -------------------------
CUSIP NO. 82967Y104 Page 13 of 14
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By: /s/ Jeffrey W. Ubben
--------------------------------------
Dated: July 2, 2007 Jeffrey W. Ubben, Managing Member
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
By: /s/ Peter H. Kamin
--------------------------------------
Dated: July 2, 2007 Peter H. Kamin, Managing Member
SCHEDULE 13D
-------------------------- -------------------------
CUSIP NO. 82967Y104 Page 14 of 14
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Exhibit 1
JOINT FILING UNDERTAKING
The undersigned parties hereby agree that the Schedule 13D filed herewith
(and any amendments thereto) relating to the Common Stock of SIRVA, Inc. is
being filed jointly on behalf of each of them with the Securities and
Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act
of 1934, as amended.
ValueAct Capital Master Fund L.P., by
VA Partners, L.L.C., its General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
VA Partners, L.L.C.
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, L.P.,
by, ValueAct Capital Management, LLC
its General Partner
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
ValueAct Capital Management, LLC
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
By: /s/ Jeffrey W. Ubben
--------------------------------------
Dated: July 2, 2007 Jeffrey W. Ubben, Managing Member
By: /s/ George F. Hamel, Jr.
--------------------------------------
Dated: July 2, 2007 George F. Hamel, Jr., Managing Member
By: /s/ Peter H. Kamin
--------------------------------------
Dated: July 2, 2007 Peter H. Kamin, Managing Member