Plano, TX and New York, NY – RealManage, the third-largest homeowner 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 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 the 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 an exclusive financial advisor, and Snell & Wilmer LLP served as legal counsel to RealManage. Weil, Gotshal & Manges LLP served as legal counsel to American Securities.
About RealManage
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 homeowner 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.
GrandManors is the distinguished community association management division of the RealManage Family of Brands. GrandManors provides dedicated staff and community association management services to luxury high-rises, lifestyle communities, and golf/country club communities.
CiraConnect is RealManage’s proprietary, cloud-based technology. It is the most comprehensive SaaS and Mobile app software provider in the community association industry. CiraConnect allows users to access all pertinent community information at their fingertips anytime, anywhere, and from any device. The technology includes web portals, tablet apps, and smartphone apps for all community constituents, including board members, residents, and service providers.
About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $26 billion under management. For more information, visit www.american-securities.com.
For RealManage:
Amanda Causey
VP of Marketing
marketing@realmanage.com
866.403.1588
For American Securities:
Amy Harsch
Managing Director
aharsch@american-securities.com
212.476.8071
