Griffin Serves as Exclusive Investment Banker in the Sale of a New HOA Management Platform to FFL Partners

Overview

Griffin’s client (the “Company”) is a leading Western-focused, full-service community management business providing comprehensive services to homeowner/condo associations (HOAs and COAs) and residential developers. Managing over 100,000 units, the Company is one of the largest community managers in the United States with a reputation for delivering outstanding service quality through an experienced local team, a technology-forward operating model and a deep commitment to its HOA/COA board and homeowner clients.

Situation

After years of sustained growth and operational excellence, the Company’s ownership group was seeking a strategic partner who could provide shareholder liquidity while also delivering the capital, resources and operational expertise necessary to support the company’s next phase of growth. Of particular importance was access to a partner with the vision and capabilities to invest in tech-enablement, enhanced service quality, operational efficiency and an improved experience for boards, homeowners and employees.

Solution

Griffin was engaged as the Company’s exclusive investment banker to identify, evaluate and negotiate a partnership that would accomplish all of the shareholders’ objectives. Griffin conducted sale process that generated strong interest from multiple parties and ultimately led to a partnership with FFL Partners (“FFL”), a leading middle-market private equity firm with over $6 billion in cumulative capital commitments. The transaction occurred simultaneously with the formation of Pioneer HOA (“Pioneer”), and the Company represents Pioneer’s keystone initial investment into the community management industry. Pioneer is a newly created holding company established to serve as FFL’s platform for investing in and scaling best-in-class community management firms across the United States. Pioneer is actively seeking additional acquisitions as it pursues its vision of building the pre-eminent community management company in the country.

For more information, contact Thomas Hill, Senior Managing Director, at 610.205.6115, Stephen Meehan, Director, at 610.205.6016, or Teddy Geraghty, Analyst, at 610.205.6013.