Two Leading Community Association Management Companies Form The CAM Collective, with $50 Million of Committed Capital for Further Growth
Newly-formed CAM Collective seeks to bring together like-minded peers while creating a unique exit option for owners
CHICAGO, May 12, 2022 /PRNewswire/ -- The CAM Collective, a network of best-in-class association management companies, announced its launch on Thursday with the introduction of new Members, executives, and investors.
National Realty Partners ("NRP") of Herndon, VA, and First Community Management ("FCM") of Chicago, IL will join The Collective as its founding Members. The firms will continue to be led by their founders, James Foley (NRP) and Michael Rutkowski (FCM), who will both take significant stakes in The Collective. Orlando Remak and Jalen Ross will join Jim and Mike as Co-Founders in The Collective. Jalen will focus on providing innovative resources to accelerate each Member Company's organic growth, while Orlando will focus on identifying prospective new members to join the Collective.
Fueling the Collective's growth ambitions is $50 million of committed capital from a group of investors, led by the investment office of the Taubman family, Taubman Capital.
The Collective's mission is to bring together the best independent community association management companies in the country, provide a financial exit for their founders, and preserve all the things that make them great: their people, culture, and deep roots in their local community.
"We thought: if it ain't broke, don't fix it," Ross said. "We knew there were lots of management company owners out there who wanted to take some chips off the table and focus on the things they loved doing. But we kept hearing over and over again that folks were unsatisfied with their options. Why wasn't there someone out there who would invest in the company without changing the name, ripping out the software, firing the accountants, or worse, all three? So…we listened."
"Around here we believe it's 'Associates First, Clients Second, Bottom Line Third,'" said Foley of NRP's culture. "If we hire and retain terrific people who take great care of our customers, we don't have to worry about our bottom line. Because of that, we've had quite a few suitors over the last three years. Nobody passed the sniff test until Jalen and Orlando showed up offering something different. Not selling out but buying in…to a collective of other folks like me. And letting NRP be NRP at the same time."
Accelerating, not reorganizing, is the name of the game, Remak says. "We believe everyone's better ff when you offer helpful tools, training, and camaraderie with peers from the 'center' of the organization, instead of top-down directives on how to do things. Turns out, people have a pretty good grasp on that—and they're eager to take advantage of new resources when they're offered instead of forced."
"The Collective is offering an experience that's missing from the market," said Christian MacCarron, Managing Director at Taubman Capital, "a way to transition as fast or as slow as you want and give your company access to a whole network of like-minded people rowing in the same direction. I'm thankful we have the resources to invest in building that vision—and to give hard-working founders a long-overdue financial windfall when they join us. The Taubman family has been building its own business for over 70 years, so we have a long-term view and believe The Collective will go the distance."
About The CAM Collective
About First Community Management
About Taubman Capital
Contact: Jalen Ross, Co-Founder
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SOURCE The CAM Collective
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