NWP Acquires Vertex Multifamily Services

NWP Acquires Vertex Multifamily Services IRVINE, CA – NWP Services Corporation (NWP) the leading provider of financial transaction processing solutions to the multifamily housing industry, today announced the acquisition of 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," stated 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 added.

Terms of the agreement were not publically disclosed.

Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. With UtilityPay Manager, NWP processes invoices sent to properties by utility companies, helping managers reduce time spent on administrative work while providing valuable data and additional utility cost management opportunities. Additional information is available at www.nwpsc.com.

Vertex employs about 9,000 people on three continents across 70 locations, delivering solutions to a wide range of clients 24/7 and supporting 45 million consumers. In North America, there are more than 2,500 dedicated professionals based in 19 Centers of Excellence serving more than 23 million consumers for nearly 70 electric, gas and water clients. Vertex is rated by The Black Book of Outsourcing (a Datamonitor Group Company) as the number one global provider of Utilities BPO services.
Source: NWP Services Corporation

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