SDR Ventures Advises Simple Turns on Acquisition by Valet Waste
SDR Ventures, a nationally recognized investment banking firm for privately held businesses, is pleased to announce that Simple Turns has been acquired by Valet Waste, LLC (“Valet Waste”), a portfolio company of Ares Management, L.P. and Harvest Partners, LP. SDR served as the exclusive sell-side advisor to Simple Turns throughout the transaction process.
Based in Denver, Simple Turns is a full-scale turn service company. By utilizing a high-tech process of scheduling, invoicing and quality control, Simple Turns delivers turn services through a vast subcontractor network located throughout the western and southern U.S. Simple Turns’ service offerings include carpet cleaning, painting, housekeeping, water extraction and common area cleaning.
“Customer demand for a standardized national turn service provider is very high. Together, we will provide a credible solution for all of our clients,” said James Heiberg, President of Simple Turns. “SDR’s expertise and understanding in forming strategic partnerships allowed its team to locate a buyer who will be able to utilize and compete in the competitive space that Simple Turns has created.”
Since 1995, Tampa-based Valet Waste has been a leading national provider of value-added amenity services to the Multifamily Housing Industry. Valet Waste offers the most requested resident amenities and services including nightly maintenance, apartment cleaning, apartment turns and porter services.
“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,” said Shawn Handrahan, President and CEO of Valet Waste. “This is truly a game changer for the turn service process.”
SDR Ventures was pleased to help facilitate this transaction, enabling the integration of two high-quality service providers with a shared appreciation for customer service and satisfaction.
“The combination of Simple Turns and Valet Waste creates a full-service multifamily services company like none other. SDR was able to meet Simple Turns’ goal of finding a partner for growth, while also providing Valet Waste with an opportunity to fill out its suite of services,” stated SDR Principal Chris Bouck. “We are excited to see the continued growth of Valet Waste and Simple Turns as they take advantage of the strong tailwinds in the Multifamily Housing industry.”