TPG has announced its acquisition of a majority stake in Conservice, a leading utility management platform, aimed at accelerating growth and innovation within the property management industry.

Target Information

The target of this acquisition is Conservice, a premier utility management platform catering to the property management sector in the United States. Founded in 2000, Conservice has established itself as a leader by offering integrated, technology-driven solutions that streamline essential functions such as metering, billing, payment, procurement, and analytics workflows for nearly 8 million residential and commercial units nationwide. The company connects property managers with over 20,000 utility providers, allowing for improved energy management, operational efficiency, and cost reduction.

Conservice's customizable solutions are designed to address complex management challenges effectively and accurately, fostering enhanced utility-related operations. The firm has garnered a reputation for delivering superior services through its innovative and scalable platform, thereby significantly aiding property managers in their efforts to optimize utility management.

Industry Overview

The utility management industry in the United States is experiencing significant growth, driven by increasing demands for energy efficiency and sustainability across various sectors. Property management companies are increasin