World Leader in Carpet Cleaning Rental Machines is Sold
November 05 2007 - 8:00AM
PR Newswire (US)
PLANO, Texas, Nov. 5 /PRNewswire/ -- Rug Doctor, maker of the
world's most popular brand of carpet cleaning rental machines,
announced today that American Capital Strategies Ltd (NASDAQ:ACAS)
of Bethesda, Maryland has made a majority investment in the
Company. Rug Doctor utilized the expertise and services of Houlihan
Lokey and Phil Roman and Company to navigate and facilitate the
sales process. (Photo:
http://www.newscom.com/cgi-bin/prnh/20071105/LAM058-a) (Photo:
http://www.newscom.com/cgi-bin/prnh/20071105/LAM058-b) For over 35
years, Americans have echoed the famous Rug Doctor slogan "Steamin'
Mad at Dirt!" Today, with over $300M in annual retail sales and
over 42,000 retail outlets, Rug Doctor has grown from humble
beginnings to become a household name in the do-it-yourself carpet
care industry. American Capital's investment will now enable Rug
Doctor to aggressively accelerate its share of the market for
high-end, consumer-owned cleaning machines, while also
strengthening its leadership as the most widely distributed carpet
cleaning rental machine in America today. "Rug Doctor has pioneered
the expansion of the steam cleaning machine rental market with the
development of its professional-grade products and sophisticated
nationwide servicing model," said Jeff MacDowell, American Capital
Managing Director. "The Company's success is supported by an
attractive product offering of effective, affordable and easy to
use carpet care and cleaning equipment and products and strong and
long-standing relationships with the leading grocery, mass and
Do-It-Yourself retailers." Founded by a professional carpet cleaner
back in 1972, Roger Kent built the first Rug Doctor machine in his
garage. He sold it to a fellow professional -- then he built
another one. Soon, Kent realized that there was also a growing
demand among consumers who wanted the same cleaning power that
professionals were using. Kent's idea was to make a machine that
was so easy to use, anyone, not only professionals, could deep
clean carpets. Soon after, Kent launched the first rental program
that made professional-grade carpet cleaning machines available to
the public. Rug Doctor's revolutionary idea soon rocked the carpet
cleaning industry, enabling the average consumer to achieve
professional carpet cleaning results. More than 5 years later, Rug
Doctor has grown to become a household name and continues as the
leading carpet care rental system with innovative products,
well-established retailer relationships, and, most enviable, a
loyal base of satisfied customers. In 2005, Rug Doctor introduced
the Mighty Pro, entering the retail market for the first time by
offering for sale the same powerful machine that had already logged
over 100 million consumer rentals. Now consumers could own the same
powerful Rug Doctor machine that was previously marketed as a
rental-only product. Combining a nation-wide direct response
television campaign with a highly-regarded brand and a product that
redefined the word "premium" in retail floor care departments
across the US, Rug Doctor rapidly gained momentum in only two years
as a consumer-owned product. Today, Rug Doctor has proven to be a
formidable player in the retail market and is currently available
for purchase in a growing number of locations, including all Kohl's
stores nationwide. Rug Doctor will soon be available at
participating Costco stores, and can also be found at other retail
locations now listed at the Rug Doctor website,
http://www.rugdoctor.com/. The Mighty Pro will also be featured in
the 2008 JCPenney catalog. In 2006, Rug Doctor was recognized by
the Carpet and Rug Institute (CRI) and awarded its prestigious Gold
standard as the only consumer-operated system to pass their
rigorous standards in removing dirt particles from carpet fibers.
The CRI testing standards were originally developed by NASA
scientists in measuring dust particles from returning Space Shuttle
flights. Leading carpet manufacturers are also beginning to
recognize this standard. Tim Wall, president and CEO of Rug Doctor,
LP adds, "The CRI Gold standard has never been awarded to any other
do-it-yourself cleaning system. In fact, if consumers are cleaning
their carpets with something other than a Rug Doctor, they may
actually void the warranty from their carpet manufacturer. Rug
Doctor is proud to maintain the highest standards in carpet
cleaning, ranking even higher than many professional carpet
cleaning systems." Steve Wahl, Vice President of Marketing for Rug
Doctor, LP, also promises, "Together with the resources of American
Capital, we believe the Rug Doctor brand will continue to grow both
domestically and overseas. This is great news for consumers, as we
continue the vision of our founder, Roger Kent -- to put the power
of the professional in the hands of the consumer. Both with our
innovative equipment design and with our expanding line of powerful
cleaning products, Rug Doctor makes everyone a professional!"
According to Wahl, Rug Doctor will be launching a new initiative in
its national television campaign later this month, featuring a new
accessory -- the Floor Doctor. This floor cleaning attachment will
convert the popular Mighty Pro into a virtual "wall-to-wall"
cleaning machine, with the ability to clean hard surface floors
with the same power for which Rug Doctor is famous. This newest
creative initiative will be aired on national networks and local
television stations in late November, appearing on average a full
17 hours a day, 7 days a week, according to Wahl. Look for exciting
news from Rug Doctor in the near future. With the "Steamin' Mad"
power of the Rug Doctor brand, dirty carpets may not stand a
chance. Rug Doctor is located in Plano, Texas and currently has
over 700 employees worldwide.
http://www.newscom.com/cgi-bin/prnh/20071105/LAM058-a
http://www.newscom.com/cgi-bin/prnh/20071105/LAM058-b
http://photoarchive.ap.org/ DATASOURCE: Rug Doctor CONTACT: Liesl
Mayerson of Rug Doctor, +1-972-673-1467 Web site:
http://www.rugdoctor.com/
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