Lessen Acquires SMS Assist to Build a $2B+ Tech-Enabled Property Services Platform
January 12, 2023
Lessen has acquired SMS Assist in a cash-and-stock transaction backed by roughly $500 million of new debt and equity financing from investors including Monroe Capital, Värde Partners and Koch Real Estate Investments. The combination creates a national, tech-enabled property services platform serving ~250,000 properties and processing ~2.5 million maintenance orders annually, with Lessen founder Jay McKee leading the combined company.
- Buyers
- Lessen, Monroe Capital, Värde Partners, Koch Real Estate Investments, Invitation Homes, American Homes 4 Rent, Fifth Wall
- Targets
- SMS Assist
- Sellers
- SMS Assist stockholders
- Industry
- Real Estate
- Location
- Illinois, United States
- Transaction Type
- Buyout
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