Vacation rental property management company Casago has agreed to acquire all outstanding shares held by public stockholders of the vacation rental management platform Vacasa Inc. for $5.02 per share, subject to adjustment as set forth in the merger agreement.
This transaction combines the strengths of both companies and accelerates progress toward a shared vision: empowered local teams, delivering best-in-class home care and revenue for homeowners, and providing superior hospitality for guests, the companies said. Combining Casago and Vacasa will create a vacation rental management platform that pairs the advantages of an international brand with the personalized care of local management.
“Casago has always been committed to delivering personalized, locally-empowered service to homeowners, and exceptional experiences to guests. We’re excited to merge with Vacasa, a company that shares our dedication to excellence,” said Casago Founder and CEO Steve Schwab. “Together, we will strengthen our ability to deliver consistent service quality on a global scale, leveraging our combined resources and expertise to better serve our homeowners, guests and partners.”
“This merger is a natural next step in Vacasa’s journey over the past year, sharpening our focus on owners, guests, and our local teams that take care of them every day. By combining with Casago, a company that shares our vision of locally-empowered, homeowner-focused property management, we’re accelerating our progress on that path,” said Vacasa CEO Rob Greyber. “We are pairing national scale with local expertise, empowering entrepreneurial teams to set a new standard in vacation rental property management.”
In addition, Roofstock, a leading proptech platform, plans to invest in and provide strategic guidance to the combined company. Roofstock has helped more than 300,000 property owners with nearly one million units optimize the performance of their rental properties.
“We are excited to be a part of what we believe should be the category-defining company in the vacation rental space,” said Gary Beasley, co-founder and CEO of Roofstock. “This investment is consistent with our mission of expanding beyond our historical focus on long-term single-family rentals to help power the broader residential investment ecosystem for investors large and small.”
Further operational and organizational details will be announced following the closing of the transaction.
