VALUE PLACE SECURES $100MM PRIVATE EQUITY INVESTMENT
Jan 22, 2013
VALUE PLACE SECURES
$100MM PRIVATE EQUITY INVESTMENT
New
York-based Lindsay Goldberg LLC, a $10 Billion Private Equity Firm,
Arms
Economy Extended-Stay Lodging Company with Means to Achieve Significant Growth
WICHITA, Kan.
(January 22, 2013) – Value Place, the nation’s leading Short-Term Residential
Property franchisor, developer, operator and owner, 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.
The transaction, along with planned successive
investments, equips Value Place with the necessary capital to continue and
accelerate its growth plan. The current and follow on investments 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. 27th,
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: affordable, clean, safe, simple and flexible.
“Our relationship with Lindsay Goldberg is an important
part of our growth strategy,” said Value Place CEO Dan 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.”
Company
Continues on Course of Growth and Enhancement
News of the private equity investment came as Value Place
celebrated the opening of its 181st unit, a property located in Odessa, TX. New locations in College Station, TX,
Dickinson, ND and Manassas, VA will open later this year. Value Place’s financial
strength and stability, growth rate and system size helped achieve a
substantial jump in the recently published Franchise 500 by Entrepreneur, soaring to number 210 from
its position at number 493 in 2012.
About Lindsay Goldberg and Value Place
Lindsay Goldberg is a New York-based investment firm that
manages $10 billion of equity capital and is focused on investing in
well-managed businesses and actively helping to build long-term value. Lindsay
Goldberg is a trusted and experienced partner with a successful track record of
investing across a wide range of industries and helping companies fully meet
their long-term potential. Lindsay Goldberg specializes in the investment in
and long-term value development of businesses in well-established industries.
For more information about Lindsay Goldberg, please visit www.lindsaygoldbergllc.com.
Founded in 2002, Value
Place is an economy extended-stay lodging brand that features remarkably
affordable weekly rates, rigorous cleanliness standards and secure temporary
lodging with an unparalleled commitment to the comfort, privacy and peace of
mind of each guest. Value Place currently has 181 locations open in 32 states.
Since opening the first Value Place property in 2003, 50 franchise groups have
committed to build over 300 properties by 2015. For more information, contact
Value Place at (316) 630-5505 or visit ValuePlace.com.