UPDATED — Jack DeBoer’s Value Place is getting a $100 million infusion from a New York private equity firm.
Lindsay Goldberg LLC, which manages $10 billion in total capital, is making the investment in the Wichita-based extended-stay chain.
The money will mean at least 50 more Value Places, including an upgraded Value Place 2.0.
There are 181 Value Places in 32 states. The chain, which DeBoer founded in 2002, has 50 franchise groups that are planning to build more than 300 properties in the next three years.
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Look for more details later this afternoon.