Conservice, a Logan, Utah-based provider of utility management software and billing solutions to property owners and managers, received an investment from private equity firm TA Associates.
TA purchased shares from Kayne Anderson Capital Advisors, a Los Angeles-based alternative asset manager, which will remain an investor in Conservice. No new shares were issued and no other owners or management sold shares in conjunction with this transaction.
The financial terms of the transaction were not disclosed.
Founded in 2000 and led by David Jenkins, President & CEO, Conservice serves the single-unit and multi-unit markets, including apartment communities, student housing, military housing, government-subsidized housing, commercial buildings, homeowner associations and real estate-owned (REO) units via customized solutions to manage billing and recovery, metering, resident payments and other utility services, to reduce operating costs, ensure proper allocation of utility fees among residents and lower energy consumption.
The Conservice Energy division sells electricity to apartment communities and commercial customers.
The company has offices in Arizona, California, Florida, Georgia, Illinois, South Carolina, Texas, Utah, Washington and Toronto, Canada.
FinSMEs
09/06/2016