CAMP is a leading provider of contractually reoccurring and generally non-deferrable facility and construction management services. Core offerings include facility services and maintenance repairs, mitigation and restoration (including life/safety & rehabilitation services), exterior and interior renovations, and complete roofing services. CAMP performs work primarily for the multifamily, hospitality, commercial, and condo (HOA) end markets, and operates in over 29 states through 250+ employees across 18 branch locations. The Company completes thousands of jobs per year for over 1,600 customers and utilizes an outsourced subcontractor model, managing thousands of subcontractor relationships. CAMP has developed strong relationships with many of the largest national property management companies in the United States.
Investment Thesis
Partner with the founder and entrepreneurial management team of a leading provider of nondiscretionary, generally non-deferrable renovation, restoration, repositioning and repair services for the multifamily housing industry. Continued strong organic growth by leveraging deeply entrenched relationships with the “who’s who” of multi-family apartment management companies in attractive core Camp markets and capitalizing on strong macroeconomic tailwinds driven by the steady increase in the “installed base” of multifamily properties and the imperative to maintain and periodically refurbish these properties. Selectively pursue M&A in the large and highly fragmented ~$13.4 billion multifamily restoration and renovation market to augment the core business, add new service capabilities, and broaden the Company’s end markets. Drive incremental cash flows and debt paydown from severe weather events, which have increased in frequency and magnitude over time, to the extent these occur during the ownership period.
Sterling Team