Casago’s acquisition of Vacasa is now official—finalized on April 30th after months of negotiations, shareholder drama, and a mid-March bid bump that sealed the deal at $5.30 per share. The offer won 72% shareholder approval and valued the transaction at ~$130M.
Vacasa has already rebranded to “A Casago Company,” delisted from Nasdaq, and folded into Casago’s expanding empire – now managing 40,000+ vacation rentals across North America, the Caribbean, and Central America.
Strategic partners are already lined up: Roofstock, a tech-forward rental marketplace and early backer of the merger, will be Casago’s first franchisee. Three Vacasa investors – Silver Lake, Riverwood, and Level Equity – rolled their stakes into Casago, backing the lower $5.30 offer over a $5.83 bid from hedge fund Davidson Kempner. They now own 26% of the combined company.
The new board includes:
- Steve Schwab (CEO, Casago)
- Joseph Riley (President, Casago)
- Joel Schubert (Miramar Holdings)
- Jeff Parks (Riverwood)
- Joerg Adams (Silver Lake)
- Rich Ford (Roofstock)
As covered in our March update, Vacasa Accepts Higher Acquisition Offer from Casago, the key distinction between the two companies lies in their business models. Vacasa operated with a centralized, corporate structure—handling operations, marketing, and pricing from HQ. Casago, by contrast, runs on a franchise model, empowering local operators to run their own P&Ls while benefiting from national systems and support.
Casago’s model blends national scale with local expertise, fostering local ownership and accountability at the market level – a formula that’s proven more sustainable in fragmented industries like short-term rentals building a strong national presence.
Big swing for Casago. Major consolidation move in the STR space.
