Company News


Valet Waste, LLC Expands Full Service Turn Service Capabilities by Acquiring Simple Turns

July 1st, 2016

Valet Waste, LLC, announced today that it has acquired Simple Turns, a full service turns company headquartered in Denver, Colorado, that provides carpet cleaning, painting, porter services, apartment cleaning and turn services to the Multifamily Housing Industry.

Based in Tampa, Valet Waste is a leading national provider of value-added amenity services to the Multifamily Housing Industry. Valet Waste provides five nights-per-week doorstep waste and recycling collection for more than 450 management companies and owner groups servicing more than 800,000 units across 35 states and Washington, D.C. The company also offers complementary maintenance services to the Multifamily Housing Industry including nightly maintenance, apartment cleaning, apartment turns and porter services through its Maintenance Plus offering, which launched in 2014.

"With our successful acquisition of Simple Turns, Valet Waste has extended our service capabilities to effectively address the high demand for make-ready services in our industry nationwide. This is truly a game changer for the turn service process. James Heiberg and his team have done a phenomenal job in providing our industry with standardized and consistent make-ready services and we are excited to expand these programs at the corporate, regional and property level throughout our industry,” said Shawn Handrahan, President and CEO of Valet Waste.

“Customer demand for a standardized national turn service provider is very high. Together, we will provide a credible solution for all of our clients in turning units more quickly to optimize rental days and reduce work load on property maintenance staff so they focus on resident repairs, reducing response times and increased resident satisfaction,” added James Heiberg, President of Simple Turns.

About Valet Waste:

Since 1995, Valet Waste has been the Multifamily Housing Industry's leading provider of five-nights-per-week doorstep trash and recycling collection. It currently services over 450 management companies and owner groups throughout the Multifamily Housing Industry that represent over 3.4 million units nationwide. Valet Waste offers the most requested resident amenities and services along with unparalleled and proven customer satisfaction. Its fully insured and uniformed professional valets collect waste and recyclables from residents' doorsteps and manage multifamily communities' on-site trash issues by streamlining waste from the doorstep to the dumpster with their proven systems. Valet Waste is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE: ARES) and Harvest Partners, LP.

About Simple Turns:

Simple Turns is a full-scale turn service company founded in Denver in 2008. Current turn services are provided by a vast subcontractor network located throughout the southern and western U.S. and include carpet cleaning, painting, housekeeping, water extraction and common area cleaning while utilizing a high-tech process of scheduling, invoicing and quality control.

View source version on PRWEB at http://www.prweb.com/releases/2016/07/prweb13529982.htm

Valet Waste
Media Relations
Lee Csulik
813-279-2126


 

Valet Waste, LLC Continues Pursuit of Sustainability, Recycling and Composting by Acquiring Green Door Valet, LLC

April 14th, 2016

Valet Waste, LLC, announced today that it has acquired Green Door Valet, LLC.

Based in Tampa, Valet Waste is a leading national provider of value-added amenity services to the Multifamily Housing Industry. Valet Waste provides five nights-per-week doorstep waste and recycling collection for more than 450 management companies and owner groups servicing more than 800,000 units across 34 states and Washington, D.C. The company also offers complementary maintenance services to the multifamily housing industry including nightly maintenance, apartment cleaning, apartment turns and porter services through its Maintenance Plus offering, which launched in 2014.

"We are honored Heath Hallada, the President and CEO of Green Door Valet, has chosen Valet Waste as the company best suited to continue the pursuit of his vision of bringing sustainability, recycling and composting to every community nationwide. After meeting Heath the first time, it was evident we were aligned on the vision of being the premier services provider to the Multifamily Housing Industry. The focus on sustainability is a perfect complement to our current doorstep collection and recycling, as well as extend our breadth of services beyond doorstep into our continued expansion of our Maintenance Plus division, to truly be the nationwide services provider our Multifamily partners desire. Heath truly makes us better tomorrow than we are today," said Shawn Handrahan, President and CEO of Valet Waste.

“The transaction unifies our mission to be the most sustainability focused service company in multifamily. Green Door Valet’s core value of customer first paralleled with our green-to-grow initiative is a natural and seamless integration to the innovative and industry leading company of Valet Waste. I am very excited to continue the mission by joining this great team, and knowing that they are a company that truly cares for their people, customers and the residents they serve. Together, we will grow our sustainability platform, which will positively impact millions of households across the country,” added Heath Hallada, President and CEO of Green Door Valet.

About Valet Waste:

Since 1995, Valet Waste has been the Multifamily Housing Industry's leading provider of five-nights-per-week doorstep trash and recycling collection. It currently services over 450 management companies and owner groups throughout the multifamily housing industry that represent over 3.4 million units nationwide. Valet Waste offers the most requested resident amenities and services along with unparalleled and proven customer satisfaction. Its fully insured and uniformed professional valets collect waste and recyclables from residents' doorsteps and manage multifamily communities' on-site trash issues by streamlining waste from the doorstep to the dumpster with our proven systems. Valet Waste is a portfolio company of the Private Equity Group of Ares Management, L.P. (NYSE: ARES) and Harvest Partners, LP.

About Green Door Valet:

Green Door Valet, LLC, founded in 2013 by Heath Hallada, is an Austin based company that provides doorstep recycling and waste solutions to multifamily communities in Austin, Dallas, Houston and San Antonio, Texas. From the beginning, Green Door Valet’s mission has been to create a culture that focused on three core values; customer first, community growth and environmental stewardship. Executing those values, Green Door Valet engages apartment residents with recycling education to create a more sustainable living experience across the Great State of Texas.

View source version on PRWEB at http://www.prweb.com/releases/2016/04/prweb13343902.htm

Valet Waste
Media Relations
Lee Csulik
813-279-2126


Ares Management and Harvest Partners Funds to Acquire Valet Waste

September 28th, 2015

LOS ANGELES & NEW YORK--(BUSINESS WIRE)-- The Private Equity Group of Ares Management, L.P. (NYSE:ARES) and Harvest Partners, LP announced today that funds managed by each have acquired Valet Waste from investment funds affiliated with New Mountain Capital, LLC. Terms of the transaction were not disclosed.

Based in Tampa, Valet Waste is a leading national provider of value-added amenity services to the multifamily housing industry. Valet Waste provides five nights-per-week doorstep waste and recycling collection for more than 400 management companies and owner groups servicing more than 665,000 units across 34 states. The company also offers complementary maintenance services to the multifamily housing industry including nightly maintenance, apartment cleaning, apartment turns and porter services through its Maintenance Plus offering, which launched in 2014.

“Valet Waste is a leader in its industry, with a longstanding track record of delivering high-quality service to its customers and providing a top-rated amenity to residents. We are excited to partner with the Valet Waste management team and look forward to supporting the company in its next phase of growth.” said Matt Cwiertnia, Partner in the Private Equity Group of Ares Management.

“We are delighted to join Ares and the senior management team as long-term investors in the company,” said Michael DeFlorio, Senior Managing Director of Harvest Partners. “Shawn and his team have built a truly unique business that provides exceptional value to customers and residents. We are excited to invest alongside this first class team to build upon Valet Waste’s leadership position in the market and expand services more broadly across the multifamily housing industry.”

“New Mountain Capital has played a vital role in growing Valet Waste during its ownership period – and we thank them for a very successful partnership,” said Shawn Handrahan, President and CEO of Valet Waste. “With the growth opportunities in front of us, this is an opportunity to take the next step and further our position as a market leader in amenity and maintenance services to the multifamily housing industry. We look forward to working with our new partners at Ares and Harvest as they share our vision for long-term growth.”

“It was a pleasure to work with the Valet Waste management team as they defined the market, built their business and achieved significant sustainable growth,” said Bert Notini, Managing Director of New Mountain Capital. “We wish Valet Waste continued success in its next stage of expansion.”

Proskauer Rose LLP acted as legal advisor to Ares Management and Harvest Partners. White & Case LLP acted as legal counsel to Harvest Partners. Robert W. Baird & Co. acted as a financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to Valet Waste.

About Valet Waste:

Since 1995, Valet Waste has been the Multifamily Housing Industry's leading provider of five-nights-per-week doorstep trash and recycling collection. It currently services over 440 management companies and owner groups throughout the multifamily housing industry that represent over 3.4 million units nationwide. Valet Waste offers the most requested resident amenities and services along with unparalleled and proven customer satisfaction. Its fully insured and uniformed professional valets collect waste and recyclables from residents' doorsteps and manage multifamily communities' on-site trash issues by streamlining waste from the doorstep to the dumpster with our proven systems.

About Ares Management, L.P.

Ares is a publicly traded, leading global alternative asset manager with approximately $88 billion of assets under management as of June 30, 2015 and more than 15 offices in the United States, Europe and Asia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. Visit www.aresmgmt.com for more information.

About Harvest Partners, LP

Founded in 1981, Harvest Partners, LP (www.harvestpartners.com) is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the business services and consumer, healthcare services, industrial services, and manufacturing and distribution sectors. This strategy leverages Harvest Partners’ 35 years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.

About New Mountain Capital, LLC

New Mountain Capital is a New York-based alternative investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

Ares Management
Investor Relations:
Carl Drake
1-888-818-5298
cdrake@aresmgmt.com
or
Media Relations:
Mendel Communications
Bill Mendel
1-212-397-1030
bill@mendelcommunications.com
or
Harvest Partners
Investor Relations:
Michael DeFlorio
Senior Managing Director
212-599-6300
or
Media Relations:
Caroline Luz
Owen Blicksilver Public Relations, Inc.
caroline@blicksilverpr.com
203-656-2829
or
Valet Waste
Media Relations:
Lee Csulik
813-279-2126
or
New Mountain Capital
Investor Relations:
Adam Weinstein
212-720-0300
aweinstein@newmountaincapital.com

Source: Ares Management, L.P.


 

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