Deal Details

Sale to Ares Management, L.P. and Harvest Partners, LP

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Summary

About

Valet Waste Holdings, Inc. (“Valet” or the “Company”), a portfolio company of New Mountain Capital, LLC (“New Mountain”), was acquired by the Private Equity Group of Ares Management, L.P. (“Ares”) and Harvest Partners, LP (“Harvest”). Terms of the transaction were not disclosed.

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

New Mountain is an 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. New Mountain is based in New York, New York.

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. Ares is headquartered in Los Angeles, California.

Harvest is a leading 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’s 35 years of experience in financing organic and acquisition-oriented growth companies. Harvest is based in New York, New York.

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