Menlo Park, California – September 12, 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 headquartered 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 the Apartment Data Services founder and management on this acquisition”, stated Dan Phelps, Managing Director of Salt Creek Capital. “We look forward to working with them 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 working with the current ADS management team and Salt Creek Capital, a firm with extensive experience working closely with management 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 Systems collects and packages competitive real-time information that enables multifamily residential property managers to maximize revenues and occupancy rates; renters and apartment locators to find the ideal rental properties; developers to locate, plan, and design optimized floor plans for new apartment construction and renovations; and investors 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.