Complete Association Management Co. LLC (CAMCO), a Nevada full-service community association management company, and its parent company HOA Capital Inc., have acquired Laguna Hills, California-based Accell Property Management for an undisclosed price.
The deal is CAMCO’s second in recent months. The company’s Northern Nevada division acquired the homeowners association management division of the Carson City, Nevada-based Valley Realty & Management, also for an undisclosed price, in November 2017.
CAMCO CEO Joel Just, who is now also CEO of Accell, said the Accell acquisition, which closed July 13 and has been in the works since March, will not affect Accell Property Management’s day-to-day operations.
Accell has 36 employees and works with 89 homeowners associations throughout Southern California. Accell's management, supervisors and customer service team will remain.
Former CEO/President Sandra Feistel will stay on as an adviser during the transition. Marcella Hvinden, a 22-year Accell employee who has been the company’s vice president, has been promoted to president. Monica Ghasri, formerly community service director, has been promoted to vice president of operations.
Beverly Eickmeyer, CAMCO’s vice president of integration, is helping the new executive team and employees during the ownership transition by facilitating the shared vision and implementing an action plan and new programs.
"The entire team at Accell is exceptional, which makes the integration easy," Eickmeyer said. "It's an honor to be surrounded by such professionals."
Feistel explained that the decision to select CAMCO will significantly benefit the company, clients, employees and communities.
“Our staff, communities and business partners will have the continuity of same executive team and our highly regarded values. You can expect to continue to receive the same high level of customer service to which you have grown accustomed, delivered by the same team of dedicated professionals you know and trust,” she said.
CAMCO’s Just said the acquisition will strengthen both companies amid a changing industry.
"The HOA management industry is very fragmented," he said. "Consolidation in this marketplace makes our companies stronger financially and allows for a greater number of services to be provided to our respective customers."
California has the second-largest concentration of homeowners associations in the United States, Just said, adding that he is interested in purchasing additional management companies throughout California.
“We are within easy reach to Southern California,” he said, “and we see a great deal of interest for employees to work in both Nevada and California."
CAMCO, founded in 1993, has offices in Las Vegas, Henderson, Carson City, Laughlin and Reno. Its staff provides management services for community associations, builders and developers. Visit camconevada.com or call 702-531-3382 for information on the company.
Accell Property Management Inc., also founded in 1993, is one of Southern California's most trusted homeowners association management groups. Visit accellpm.com or call 949-581-4988 or 818-882-4988 in Los Angeles County.