RECENT RELEASESValet Living
Headquartered in Tampa, Florida, Valet Living was a leading national provider of value-added services to the multifamily housing industry. Valet Living provided five nights-per-week doorstep waste and recycling collection for more than 400 management companies and owner groups across more than 3,200 properties and more than 900,000 apartment units across 34 states. Valet Living’s fully insured and uniformed professional employees collected waste and recyclables from residents’ doorsteps and managed multifamily communities’ on-site trash issues by streamlining waste collection at large, medium and small properties. Valet Living further leveraged its customer base, flexible workforce and technology to expand into directly adjacent services via its branded Maintenance+ segment, which included services such as common area cleaning, grounds-keeping, maintenance/repair and other janitorial work.
Harvest Partners Investment
In September 2015, Harvest Partners and Ares Management led the recapitalization of Valet Living in partnership with management. To fund the acquisition, Harvest Partners and Ares Management provided equity capital and arranged the debt financing.
- Dominant provider in growing and under-penetrated industry
- Stable, recurring business model with strong cash flows
- Multiple growth levers including organic growth and tuck-in acquisitions
- Management team with track record of success