Spell Capital Mezzanine Announces an Investment in Apartment Data Services

Minneapolis, MN, September 2014Spell Capital Mezzanine (“Spell”) is pleased to announce a mezzanine debt and minority equity investment in Apartment Data Services (“ADS” or the “Company”) as part of the acquisition of the Company by Salt Creek Capital (“Salt Creek”).

Founded in 1986 and based in Houston, TX, ADS collects and packages competitive real-time information that enables renters and apartment locators to find appropriate rental properties; property managers to optimize revenues and occupancy rates; construction companies to locate, plan, and design optimized floor plans for new apartment construction and renovations; and commercial property investors to forecast returns.

“ADS has a unique business model that has been continually refined and improved upon over the last 28 years with advances in technology,” said Andrew Leonard, Managing Director at Spell. “We are pleased to invest in ADS alongside Salt Creek Capital and support their initiatives to accelerate the Company’s growth.”

“We appreciated the flexibility and professionalism of the Spell team in helping us close this transaction in an expedited manner,” said Dan Phelps, Managing Director of Salt Creek Capital.

About Spell Capital Mezzanine
Spell Capital Mezzanine provides subordinated debt and non-control equity to businesses in a variety of industries across the United States. We finance leveraged acquisitions backed by lower middle-market private equity sponsors, management and family driven ownership transitions, add-on acquisitions, recapitalizations and growth initiatives.

About Spell Capital Private Equity
Spell Capital Private Equity is engaged in the acquisition of controlling interests in well-managed, historically profitable industrial manufacturing businesses. We use our deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which we invest – both internally and through add-on acquisitions.

About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay-Area based private equity firm that partners with talented operating executives to acquire profitable small businesses across the U.S. In this transaction, Salt Creek partnered with Rudy Mui, an experienced executive with a background in strategy, marketing, customer development, product development and operations to acquire ADS and execute a robust growth strategy.

For more information about this transaction, please contact Andrew Leonard, Managing Director at andrew@spellcapital.com.

Comments are closed.