Inframark Acquires Texas-based Certified Management of Austin (CMA) to Add to Growing Community Management Portfolio
CMA enhances the company's growing footprint and local presence in Austin, Texas
KATY, Texas - Sept. 1, 2022 - PRLog -- Inframark, LLC, a leading provider of integrated community management services across the U.S. for over 40 years, announced today the successful acquisition of Certified Management of Austin (CMA). CMA is a preferred provider of financial, administrative, and support services within the greater Austin, Texas market, serving 39 communities and more than 6200 residential units. CMA is the second company to join the company's impressive Community Management portfolio, as well as the 7th overall completed transaction for Inframark since the start of 2021. The acquisition closed on August 31, 2022. The financial terms of the transaction were not disclosed.
According to Jim Irwin, Inframark's SVP of Corporate Development, "The acquisition of CMA grows Inframark's Community Management division in Austin by 300%. This investment demonstrates our commitment to aggressively expand our Community Management division via complementary acquisitions in markets of interest."
This transaction furthers Inframark's commitment to building on its rapid organic growth in Texas and Florida while providing access to additional geographic markets across the United States.
Chris Tarase, Inframark Vice President of Community Management, states, "CMA was selected because of its shared culture; valuing employees and being fully committed to providing best-in-class customer service to clients. We welcome CMA and its clients into our team of highly trained professionals who are honored to earn our customer's trust and business each day. Our partnership, communication, and collaborative culture will only strengthen with CMA."
Lu Fonteno, Owner of Certified Management of Austin (CMA), stated, "I conducted an extensive search for the right partner to trust my clients and employees to and decided on Inframark because of their alignment on culture and approach to providing excellent service and support to our clients and employees. I am excited about the future and trust that my clients and staff are in good hands."
Inframark, LLC (www.inframark.com) is a standalone American infrastructure services company focused on the operation and maintenance of water and wastewater systems, management of community infrastructure, and back-office services.
With more than 40 years of experience managing water-related infrastructure, the company employs 2,500 people serving more than 400 clients in 21 states. Its North American operations manages facilities that can treat a billion gallons of drinking water and wastewater daily. It also manages 10,000 miles of wastewater collection and water distribution networks. Its infrastructure management services group serves 220 clients with financial, administrative, and specialized support services.
Certified Management of Austin (https://www.cmaaustin.com) was created in 1986 and, at that time, was one of the only companies in the Austin area managing community associations. Since 1986 CMA has built a portfolio of communities that we retain yearly. In May 2008, the company was purchased by Lu Fonteno, an industry veteran. CMA is a medium size, local, and family-owned business. Their staff of professionals takes a personal interest in each association they manage. Currently, they employ four full-time managers, all of whom hold various designations through CAI, two office administrators, an accounting bookkeeper, a maintenance coordinator, and one roving maintenance person.