DANVILLE, Calif., March 27, 2012 /PRNewswire/ -- Common Interest Management Services (CIMS) announces its acquisition of Pelican Management, a long-standing and well-regarded community management company in San Mateo, CA. Pelican has a fourteen-year history of operating on the Peninsula and it currently serves over 52 community associations.
"For several years, we were in friendly and confidential conversations with the owners of Pelican Management. We know the decision to sell a business is very personal and the timing needs to be just right. We are pleased to know that the trust we built over time with the Sellers was strong enough for us to agree on a deal that was mutually rewarding," said Mike Archer, CEO of Common Interest Management Services. "This is our second acquisition on the Peninsula in the last three years (CIMS acquired Sprague & Associates in 2008). Immediately and over time, our most important priority is listening to our new Boards and community homeowners to understand their challenges so we begin to serve them to a new and higher level of satisfaction."
The terms of the acquisition were not announced, but CIMS' acquisition approach has been to identify well-managed companies in CIMS' immediate markets that are looking for an exit. Key to CIMS success has been to create compelling value by tendering offers at a market-competitive price with accelerated payouts for the former owners. In closing, Mike Archer added, "one of the hidden treasurers we found in the acquisition of Pelican was its people. The talent and dedication of the Pelican community managers, customer support and administrative teams adds positively to our strong nucleus in San Mateo. We are excited to be an employment destination for the Peninsula's best community managers who seek greater career opportunity and financial rewards than are offered elsewhere. Since opening our Peninsula office three short years ago, we have grown to serve over ninety (90) communities, confirming our belief that greater choice among competitors is welcomed by Peninsula communities seeking higher levels of service, responsiveness and cost savings."
About Common Interest Management Services
Founded in 1990, Common Interest Management is a leading provider of professional community management services to homeowners associations (HOAs) throughout the Bay Area with offices in Danville, San Mateo and Campbell. Common Interest Management is invested in the markets it serves with local offices and dedicated employees providing highly responsive and competent service to our owners and residents. Our team's collective effort is dedicated to building enduring relationships with our customers and vendors that stand the test of time. Common Interest Management specializes in the management of master-planned, single family home, condominium, mixed use residential and mid-rise communities and now serves more than 190 communities representing over 33,000 homes in Northern California. We are proud and thankful to be an integral part of the communities we have the privilege to serve.
SOURCE Common Interest Management Services