GMAC Relocation Services Inc., a subsidiary of GMAC Home Services, announced today the acquisition of Morrell & Associates Partnership, Inc., and Home Run, Inc., two specialized relocation services firms based in Florham Park, N.J.

Terms of the transactions were not disclosed.

"Morrell & Associates has an outstanding reputation in the New Jersey and New York markets which is apparent when you look at the company's long-standing, loyal client base," said Dick Schlott, GMAC Home Services president and chief executive officer.

Gary Dittrich, GMAC Home Services chief operating officer and president of GMAC Relocation Services, Inc., said, "Morrell & Associates are experts in tailoring relocation services to the needs of their clients. By adding them to our product mix, we are confident the combined expertise will enhance GMAC Home Services' businesses. In addition, their superior customer service philosophy is in line with our vision of meeting the needs of all of our customers throughout the home buying and home selling process. It's a win-win situation," Dittrich said.

Noreen Morrell, president of Morrell & Associates, expressed her excitement with becoming part of the GMAC Home Services team. "With GMAC Home Services as our parent company, we are better positioned to offer services beyond the scope of our current offering as an independent company. And even though we are part of a larger company, we stand by our promise to provide exceptional customer service to all of our clients."

Morrell & Associates provides custom-tailored relocation services to its clients including departure services, destination services, international services, financial administration, policy consulting, affinity programs and a variety of other services. Last year, they assisted more than 2,000 relocating employees.

Morrell & Associates will continue as a specialized service company of GMAC Relocation Services, Inc.

GMAC Relocation Services Inc., a unit of GMAC Home Services, was formed in October of this year when it acquired a 100% interest in Argonaut Relocation Services, LLC, previously operated as a joint venture between General Motors Corporation and LandAmerica Financial Group, Inc.

Published: December 14, 1998

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