American Capital Strategies Buys Rug Doctor

Plano, TX, November 5, 2007--Rug Doctor, maker of carpet cleaning rental machines, said that American Capital Strategies Ltd of Bethesda, Maryland has purchased the majority of the company.

Rug Doctor has over $300 million in annual retail sales and over 42,000 retail outlets.

American Capital's investment will be used to expand into high-end, consumer-owned cleaning machines, while also strengthening its rental business.

"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.

Soon after, Kent launched the first rental program that made professional-grade carpet cleaning machines available to the public.

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.

In 2006, Rug Doctor was recognized by the Carpet and Rug Institute and awarded its prestigious Gold standard as the only consumer-operated system to pass its rigorous standards.

Steve Wahl, vice president of marketing for Rug Doctor, said the company will launch a new accessory -- the Floor Doctor, for hard surface floors.

Related Topics:RD Weis, Carpet and Rug Institute