Houlihan Lokey is pleased to announce that American Utility Management, Inc. (AUM) has been acquired by RealPage, Inc. (NASDAQ:RP). The transaction closed on June 16, 2017.
Based in Lombard, Illinois, AUM is a leading provider of utility and energy management solutions for the multifamily housing industry. AUM helps operators of rental real estate maximize cost recovery, reduce energy usage and expense, save time and resources, and manage their utilities more effectively. AUM also offers an energy management platform that allows property owners and managers to gain better insights into energy consumption and costs relative to peers.
RealPage is a leading global provider of software and data analytics to the real estate industry. Clients use RealPage's platform to improve operating performance and increase capital returns. Founded in 1998 and headquartered in Richardson, Texas, RealPage serves over 11,000 clients worldwide from offices in North America, Europe, and Asia.
The purchase price of $70 million is subject to certain working capital adjustments and post-acquisition indemnification claims. AUM generated revenue of approximately $30 million for the year ended December 31, 2016. RealPage expects the acquisition to contribute approximately $15 million in revenue and an Adjusted EBITDA range of $2–$3 million during 2017.