The Canada-based private equity management company Westbridge Capital today announced its acquisition of the Woodinville-based global housing solutions company ABODA, which provides temporary housing for workers relocating to the area. Through the acquisition, ABODA will be added to a new hospitality network branded RESIDE Worldwide in Seattle. Westbridge provided the capital to acquire ABODA and formed RESIDE alongside other partners.
RESIDE Worldwide’s mission will be “bridging the gap between the housing and hospitality markets,” according to newly-named RESIDE Worldwide CEO Lee Curtis. The new company aims to acquire and “roll up” businesses both in and outside of the housing and hospitality industry as it pursues more real estate acquisitions and building management opportunities.
“We are very excited about building upon ABODA’s momentum and reputation and maximizing the team’s potential, led by Dave Caple, CCHP, president of ABODA, to carry out the RESIDE Worldwide growth plan,” said Curtis.