Infusion of $22.4 Million Sets up Value Added Services for Fast Growth
SOUTHLAKE, TX. Monday, October 16, 2006 – Value Added Services (VAS), the industry leading developer and marketer of tangible product solutions for the enhancement of extended warranty programs of major retailers, announced today that the company has sold a controlling interest worth $22.4 million to Dallas based Reef Equity.
This infusion of capital will allow Value Added Services to further expand and enhance its reputation as the leading provider of tangible, customer centric products designed to help retailers sell service programs such as extended services plans and home installation services; the precise programs that consumer electronics and other retailers are focused on to set themselves apart from the competition in a crowded marketplace.
The programs are turn-key solutions from concept through deployment. “Our focus is to maximize the revenue and gross margin of retailers’ extended warranty programs through the marketing of value added offerings and benefits,” says Rob Dean, president of VAS. “We are extremely excited about our new partners, as they bring a wealth of experience from their numerous successful acquisitions, fresh ideas, management and capital, and offer a whole new perspective on how to take Value Added Services to the next level."
Value Added Services seamlessly integrates with current administrator and insurance providers as well as providing retailers with comprehensive, ongoing training and support programs on the best methods for marketing the new warranty offering(s). "VAS is an exceptionally fast growing company with opportunities to expand nationally and internationally" said Boris Gremont, the Managing Director of Reef Equity, who spearheaded the transaction. "VAS has created a unique, bundled product and services offering which is included with the extended warranty, creating significant added value to the consumer."
About Value Added Services
Value Added Services was founded in 1999 by Rob Dean and Judy Thomas, veterans in warranty administration and services. Value Added Services was first to market with products and programs including product care and enhancement packs, laptop and PDA Screen Protection, product accessory kits, golf club performance plans, hacker and identity theft products, and web based service plan administration tools. VAS’ services include worldwide sourcing, customized printing and packaging, warehousing and assembly, order processing, and fulfillment services. Companies interested in learning more about Value Added Services’ suite of turn-key, tangible solutions should contact Rob Dean, at RDean@VAServices.com or visit www.VAServices.com