News for the Hospitality Executive
WICHITA, Kan. (January 23, 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
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.
About Value Place
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.
GRiP Communications LLC
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