Tampa, Fla.–NWP Services Corporation (NWP) has acquired the Multifamily Services Division (CBSI) from Vertex Business Services. CBSI is a Tampa-based provider of billing, energy management, and meter installation and maintenance services to multifamily housing communities and commercial real estate properties.
The acquisition extends NWP’s market leadership in utility billing, cost recovery and utility management for the multifamily housing industry.
“We are pleased with the completion of this acquisition and for what it means to our company’s continued growth, but more importantly for what it provides for our new customers,” says Michael Radice, president and CEO of NWP. “Our additional services and solutions can dramatically increase their profitability and the asset values of their multifamily properties by creating additional opportunities for expense savings and increased operating income,” Radice adds.
The terms of the agreement were not publically disclosed.