American Securities has made an investment in RealManage, a home owner association and condominium management company. No financial terms were disclosed.
PLANO, Texas and NEW YORK, June 2, 2022 /PRNewswire/ — RealManage, the third largest home owner association and condominium management company in the United States, and American Securities LLC, a leading U.S. private equity firm, today announced a strategic partnership that includes an investment from affiliates of American Securities to support RealManage’s leading operations and to accelerate growth through acquisitions and branch openings.
RealManage was initially conceived in 2002 and launched in 2004 with the acquisition of a highly successful property management company in Austin, Texas. Today, RealManage has expanded from a single branch in Texas to serve over 3,000 communities across 19 states using a technology-first approach. RealManage continues to expand its geographic coverage and the offerings provided to the communities it serves. RealManage has acquired five highly successful community management companies year to date, expanding its operations in Southeast Florida, Colorado, and Arizona. Communities and community association managers are supported by CiraConnect, RealManage’s central services group that includes all of its software, resident service center, financial management, collections, and disclosure functions.
“We were excited to partner with American Securities given its long-term focus, history of supporting entrepreneurs, and the vast array of resources they provide to accelerate growth,” commented Chris O’Neill, Co-founder and Chief Executive Officer of RealManage. “This partnership will support RealManage’s continued organic and inorganic growth, expansion of services, technology investment, and industry leading service for customers.”
“We have been following the community association management industry for many years and have admired RealManage and the platform that Chris and his team have built over the last two decades,” said Loren Easton, a Managing Director of American Securities. “RealManage has experienced exceptional growth under current leadership and we look forward to working with them as they continue to execute their exciting growth strategy.”
Through this partnership with RealManage, American Securities continues its 28-year focus on supporting founders and entrepreneurs in executing their strategic objectives and accelerating profitable growth and further expands American Securities’ portfolio of growth-oriented and technology-enabled services businesses.
William Blair & Company, LLC served as exclusive financial advisor and Snell & Wilmer LLP served as legal counsel to RealManage. Weil, Gotshal & Manges LLP served as legal counsel to American Securities.
The RealManage Family of Brands, which includes GrandManors and CiraConnect, is one of the fastest-growing association management companies in the country, currently ranking number three among the nation’s home owner association / condo management companies. RealManage offers innovative management services to community associations of all types and sizes, including homeowner associations, condominium associations, cooperatives, municipal utility districts, and large master-planned communities.