Successful Acquisition of Northern Edge Client Apartment Data Systems
Salt Creek Capital Announces Acquisition of Apartment Data Services
Menlo Park, California – September 8, 2014 – Salt Creek Capital is pleased to announce the recently completed acquisition of Apartment Data Services (“ADS”), a leading online data services and advertising company located in Houston, Texas. Founded in 1986, ADS sources and sells real-time, historical and highly localized apartment rental data and occupancy statistics, as well as advertising services to the multifamily residential property management, construction, and apartment locator industries.
“We are excited to partner with Mr. John Severance, founder of Apartment Data Services on this acquisition”, stated Dan Phelps, Managing Director of Salt Creek Capital. “We look forward to working with him and our Executive Partner, Mr. Rudy Mui, and the rest of the ADS team to effect a smooth transition and to position ADS for continued growth.” We appreciate Spell Capital’s support in completing this transaction as our lending partner.
Mr. Mui, incoming CEO of ADS, added, “I look forward to teaming up with John and the Salt Creek Capital team who have extensive experience working closely with management teams and growing services companies. ADS is an industry leading company, and I’m excited to join ADS’s strong management team and it’s tradition of providing innovative and premium products and services to the apartment rental industry.”
About Apartment Data Services, Inc.
Founded in 1986, Apartment Data Services collects, sources, and sells real-time and historical apartment rental and occupancy data and statistics and advertising services to property managers, apartment locators and multifamily residential developers and investors. Real-time information provided by ADS enables renters to find available units; property managers to optimize rental and occupancy rates; apartment locators to better serve their clients and real estate executives and investors the ability to make better decisions. More information is available at www.apartmentdata.com.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm focused on executive-led buyouts of profitable companies with $3M – $50M in revenue. Salt Creek takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and to improve the operating efficiency of its portfolio companies. More information is available at www.saltcreekcap.com.
Northern Edge acted as the exclusive financial advisor to Apartment Data Services on this transaction.
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