PROVIDENCE, R.I. & NEW YORK--(BUSINESS WIRE)--

Nautic Partners (“Nautic”) announced today that it has closed the sale of portfolio company AKAM (or the “Company”) to Audax Private Equity.

Founded in 1983, New York City-based AKAM is a property management and real estate firm that operates through three subsidiaries: AKAM, Orsid, and Metro Management. Primarily serving condominiums and cooperatives, as well as single-family homeowner associations, AKAM seeks to set the standard in property management with its Residential Intelligence business philosophy that places customers at the heart of its business. With a deep history and expertise in the New York and Florida markets, AKAM looks to cultivate thriving communities through its hospitality-driven team, rigorous operational standards, and rich service offerings.

AKAM’s existing management team, led by Chief Executive Ken Greene, will continue to lead the business, ensuring continuity for clients, employees, and partners.

“Nautic Partners has been an outstanding partner through their investment, supporting our expansion and strengthening our business,” said AKAM CEO Ken Greene. “They have a collaborative approach and deep experience in scaling services businesses that deliver meaningful value for their customers. We look forward to the next chapter of growth with Audax.”

Bernie Buonanno, Managing Director at Nautic, said “AKAM has built an outstanding reputation as a premier property management platform, distinguished by its client service. We are proud of what the team has accomplished and believe the company is well positioned for its next chapter.”

Johannes Essl, Principal at Nautic, added “In partnership with AKAM’s leadership team, we are proud of the value we drove through strategic acquisitions, investments in technology and infrastructure, and operational enhancements that expanded its ability to serve clients and residents.”

“This transaction underscores the strength of Nautic’s professional and tech-enabled services franchise,” said Shahan Zafar, Managing Director at Nautic. “We believe the outcome validates our sector strategy and reinforces our ability to inflect differentiated services platforms.”

William Blair served as lead financial advisor to AKAM and Nautic, with support from Griffin Financial Group, while Troutman Pepper Locke provided legal counsel. Baird and Brown Gibbons Lang & Co. served as financial advisors to Audax, while Ropes & Gray provided legal counsel.

ABOUT AKAM:

Powered by its people and its properties, AKAM sets the standard in property management and brokerage for both residential and commercial properties. With deep history and expertise in New York and Florida as well as a vision for growth across the nation, AKAM has been cultivating thriving communities through its hospitality-led team, leading operational standards and rich service offerings. For more information, visit akam.com.

ABOUT NAUTIC PARTNERS:

Nautic Partners, LLC is a middle-market private equity firm based in Providence, Rhode Island, that focuses on investments in three sectors: healthcare, industrials, and services. Nautic has completed over 160 platform transactions over its 40-year history. The firm employs a proactive, thematic investment strategy and partners with strong management teams to accelerate the growth of its portfolio companies through strategic add-on acquisitions, targeted operational initiatives, and deep sector expertise. For more information, please visit www.nautic.com.

AKAM executives were not compensated, directly or indirectly, for statements made above regarding Nautic and are not investors in Nautic funds.

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Source: Nautic Partners, LLC