News

Associa Acquires Community 1st Advisors (C1A)

 

Community 1st Advisors was acquired by Associa, the world’s leading management service company, on February 1, 2019.  Included in the acquisition were six property management and accounting offices in the southeast U.S.

Part of the $70 billion association management Industry, Associa, with offices around the world, is the largest technology manager of condominium, homeowner and townhome associations, with more than $1 billion in revenues.  

Community 1st Advisors, a leading innovator in the property management accounting and bank partnership sectors, experienced rapid growth and successfully acquired seven property management offices.  

“Associa is becoming a technology-enabled company in a large service network industry and the company’s C-suite team is uniquely suited to deliver unequalled opportunities to staff and customers,” said Bryce Bowman, outgoing Community 1st Advisors CEO and majority stockholder. “Our entire team is excited to become part of Associa and to continue the amazing growth we have had in a very competitive industry.”

The transaction was led by Associa CFO Jose Bosco Maldonado, and the acquisition was financed by Owl Rock, a New York based finance firm, as well as Goldman Sachs.

About Associa
With more than 225 branch offices across North America, Associa is building the future of community for nearly five million residents worldwide. Our 11,000+ team members lead the industry with unrivaled education, expertise, and trailblazing innovation. For more than 43 years, Associa has brought positive impact and meaningful value to communities. To learn more, visit www.associaonline.com.

About People 1st Advisors
Founded in 2017, People 1st Advisors (P1A) is a Chicago-based, veteran-owned private investment firm that deploys its own capital into a growing portfolio of people-centric small and middle-market businesses.  The company has achieved outsized financial returns by extracting hidden value and unleashing it through proven leadership. Find out more at p1a.com.