Value Place Secures $100 Million Private Equity Investment
WICHITA, Kan.—Value Place announced today that it has secured a $100 million capital investment from Lindsay Goldberg LLC, a private equity firm with $10 billion of total capital under management. READER COMMENTS
The transaction, along with planned successive investments, equips Value Place with the necessary capital to continue and accelerate its growth plan. The investment will be used to add at least 50 new company locations while continuing to expand its current franchise base. Plans also include the roll out of “Value Place 2.0” upgrades across the company owned locations. The Value Place executive team finalized the transaction on Dec. 27, 2012.
The existing senior management team led by Dan Weber, CEO and Kyle Rogg, President and COO will remain intact. Founder and visionary Jack DeBoer will continue to serve as chairman and ensure the brand delivers on its core values.
“Our relationship with Lindsay Goldberg is an important part of our growth strategy,” said Weber. “Lindsay Goldberg has a reputation for making long-term investments in companies with extraordinary potential for growth and financial performance. Their endorsement of Value Place sends a strong message about the potential for Short-Term Residential Property development and is further validation of the company’s highly efficient operating model, Brand and value proposition.”
News of the private equity investment came as Value Place celebrated the opening of its 181st unit, a property located in Odessa, Texas. New locations in College Station, Texas, Dickinson, N.D. and Manassas, Va. will open later this year.
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