Salt Creek Capital Announces the Sale of ApartmentData.com
Aug. 04, 2022
Woodside, California (August 4, 2022) – Salt Creek Capital is pleased to announce the sale of ApartmentData.com (or the “Company”) to MRI Software (“MRI”). Founded in 1986, the Company provides market research and data solutions on professionally managed properties with more than 50 units, including pricing, concessions, occupancy, amenities and policies at the floor plan level. The Company serves 12 of the fastest-growing metropolitan statistical areas (“MSAs”) in the U.S.: Houston, Dallas/Fort Worth, Austin, San Antonio, Atlanta, Phoenix/Tucson, Nashville, Raleigh/Durham, Charlotte, Orlando, Tampa and Jacksonville. Salt Creek Capital originally acquired the Company in 2014.
Mr. Rudy Mui, ApartmentData.com’s CEO, stated, “It has been an incredible experience leading the Company in partnership with Salt Creek Capital and the Company’s founder, John Severance. I am grateful for Salt Creek’s support as an advisor and committed partner during the past several years and for their leadership in achieving a strategic exit to MRI, a market leading real estate software provider."
Mr. John Severance, ApartmentData.com’s Founder, added, “It has been an amazing experience partnering with Rudy and Salt Creek Capital. Selling a majority of the Company to Salt Creek in 2014 and transitioning leadership to Rudy as the CEO enabled me to focus on my passion for engineering and product development in the CTO role. The Company expanded significantly, entered new markets, launched new product offerings and created a platform to scale nationally, ultimately providing me a second successful exit from the Company that I founded over 35 years ago.”
Mr. Dan Phelps, Managing Partner at Salt Creek Capital, stated, “We appreciate Rudy’s leadership during our involvement and the growth initiatives that he and the ApartmentData.com team successfully delivered. Rudy, John and the entire team should be very proud of the Company they built. MRI’s acquisition is validation of the Company’s strong customer value proposition as well as their potential for further scaling. We are thankful for the opportunity to partner with strong leaders and innovative entrepreneurs like Rudy and John and appreciate all of their hard work to achieve this successful outcome.”
Silvermark Partners served as the exclusive transaction advisor to ApartmentData.com.
About ApartmentData.com
Founded in 1986, ApartmentData.com 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 that partners with experienced operating executives to acquire profitable companies with $5 million - $150 million in revenue. Salt Creek Capital 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 improve operating efficiencies. For more information, please contact Tyler Romrell at tyler@saltcreekcap.com or visit www.saltcreekcap.com.
Mr. Rudy Mui, ApartmentData.com’s CEO, stated, “It has been an incredible experience leading the Company in partnership with Salt Creek Capital and the Company’s founder, John Severance. I am grateful for Salt Creek’s support as an advisor and committed partner during the past several years and for their leadership in achieving a strategic exit to MRI, a market leading real estate software provider."
Mr. John Severance, ApartmentData.com’s Founder, added, “It has been an amazing experience partnering with Rudy and Salt Creek Capital. Selling a majority of the Company to Salt Creek in 2014 and transitioning leadership to Rudy as the CEO enabled me to focus on my passion for engineering and product development in the CTO role. The Company expanded significantly, entered new markets, launched new product offerings and created a platform to scale nationally, ultimately providing me a second successful exit from the Company that I founded over 35 years ago.”
Mr. Dan Phelps, Managing Partner at Salt Creek Capital, stated, “We appreciate Rudy’s leadership during our involvement and the growth initiatives that he and the ApartmentData.com team successfully delivered. Rudy, John and the entire team should be very proud of the Company they built. MRI’s acquisition is validation of the Company’s strong customer value proposition as well as their potential for further scaling. We are thankful for the opportunity to partner with strong leaders and innovative entrepreneurs like Rudy and John and appreciate all of their hard work to achieve this successful outcome.”
Silvermark Partners served as the exclusive transaction advisor to ApartmentData.com.
About ApartmentData.com
Founded in 1986, ApartmentData.com 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 that partners with experienced operating executives to acquire profitable companies with $5 million - $150 million in revenue. Salt Creek Capital 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 improve operating efficiencies. For more information, please contact Tyler Romrell at tyler@saltcreekcap.com or visit www.saltcreekcap.com.