San Diego — March 19, 2018 — ACCESS Destination Services announced today they have partnered with a group of investors in acquiring a majority stake in the ACCESS brand and its’ destination management companies (DMCs) in San Diego, Los Angeles, Northern California, Las Vegas and Arizona. The new investors include Valesco Industries, StoneCreek Capital and Mr. Blake Brown. The management team at ACCESS will continue to lead the organization and maintain significant equity ownership in the company.
Recognized as a leader in the domestic DMC market, ACCESS has doubled its business over the last 5 years, steadily building on a foundation that traces its roots back almost 50 years. ACCESS’ new partners were attracted by the ACCESS brand and integrated business model, built on brand strength, quality operations, and best-in-class service across 18 offices in the US.
“Our team structure and, more-importantly, the commitments that we have to our partners and customers, will not change,” said Jennifer Miller, who was named Chief Executive Officer of ACCESS. “We continue as a single, shared brand. We remain one integrated team. What will change is our ability to move even faster, with new financial wherewithal, that will allow us to build greater economies of scale and invest in leading-edge solutions. The name of our game remains customer service, and our partnership with Valesco and StoneCreek only enhances our ability to continue to deliver on this front. We are thrilled to be working with our new partners.”
Chris Lee, who will serve as Chairman Emeritus of ACCESS, added, “The teams at Valesco and StoneCreek believe in our strategy, our brand, our partners and our vision. They are the ideal groups to advance the ACCESS legacy.”
“Part of what attracted us to ACCESS is not only their position as a leader in the DMC space, but the strength of their management and operational teams nationwide,” said Jack Sadden, Managing Partner at Valesco. “We look forward to supporting the team at ACCESS to build capacity – and they’re already experts at delivering creative, innovative customer experiences that are second-to-none.”
Founded in 1969, ACCESS sets the standard for excellence in award-winning destination management services and event production throughout North America. With global reach and local expertise, ACCESS meets client objectives and exceeds expectations for corporate, incentive and association groups. For more information, visit the ACCESS website at www.accessdmc.com.
Valesco Industries is a Dallas, Texas based private equity firm that focuses on making control and non-control investments in select growth-oriented small- and lower- middle-market businesses engaged in manufacturing, distribution and business-to-business services. Valesco specializes in partnering with a company’s management team to support its growth objectives. As long-term industry veterans, the principals have capitalized and built numerous successful businesses, serving those companies in varying roles as investors, managers, advisors and directors. For more information, visit Valesco’s website: www.ValescoInd.com.
StoneCreek Capital, founded in 1992, is an independent private equity sponsor that invests in growth-oriented middle market companies, in a wide range of industries. Based in Irvine, California, StoneCreek partners with exceptional management teams and founders with the goal of building long term value for all stakeholders by helping to identify and implement key strategic and operational initiatives. The principals of StoneCreek have sponsored the acquisition or recapitalization of more than 50 companies. For more information, visit StoneCreek’s website at www.stonecreekcapital.com.