LP First Capital Leads Acquisition of Top 10 SFR Property Manager Northpoint Asset Management

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Jan 29, 2024, 11:28 ET

SALT LAKE CITY, Jan. 29, 2024 /PRNewswire/ -- LP First Capital ("LPFC"), a business services-focused private equity firm, today announced the acquisition of Northpoint Asset Management ("Northpoint"), a top 10 national single-family rental property management company. The acquisition was completed in partnership with Genesis Park, who provided equity and debt financing, and Samson Capital Group, who provided equity financing.

LP First Capital, Genesis Park, and Samson Capital Group are pleased to announce the acquisition of Northpoint Asset Management

Founded in 2006 and headquartered in Salt Lake City, UT, Northpoint manages 8,100+ homes for retail and institutional investors across 40+ regions and 22 states. Northpoint provides full-service property management, in-house maintenance, real estate brokerage, and institutional back-office services to its clients.

"Northpoint has an exceptional track record of client service and organic geographic expansion. We are excited to partner with the company's talented management team as they continue to build the leading national single-family rental property management platform," said Thomas Ince, Managing Partner and Founder of LP First Capital.

Adam Haleck, CEO of Northpoint, added, "We're thrilled to partner with LP First Capital, Genesis Park, and Samson Capital Group, especially given our shared thesis around the SFR space and its tailwinds. We look forward to elevating performance outcomes for our clients and tenants to even higher levels, while advancing Northpoint's position and influence in the residential property management industry overall."

Northpoint will serve as LPFC's platform for strategic growth in the fragmented property management sector. The company is well-positioned for continued strong organic growth, and the management team will play an important role in identifying and integrating strategic add-on acquisitions that align with the platform's objectives. LPFC is committed to supporting Northpoint's growth both organically and through M&A activity.

For more information about Northpoint, visit www.northpointam.com.

About LP First Capital

LP First Capital ("LPFC") is a private equity firm that specializes in partnering with family-owned, founder-led businesses to help them achieve their full potential. By providing capital, operational expertise, and strategic guidance, LP First Capital helps provide the support and tools needed to grow and develop its portfolio companies. The firm's experienced team of industry professionals is dedicated to driving value and generating superior returns for all stakeholders. Since inception, LPFC has formed 8 platform investments and closed over 50 total acquisitions. The firm targets companies with at least $10 million in revenue and $3 million in EBITDA, partnering with management teams to facilitate growth and long-term value creation. For more information, visit www.lpfirstcapital.com.

About Genesis Park

Genesis Park is a Houston-based private credit and equity investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company ("SBIC") by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $3 million of EBITDA, with proven business models and seasoned management teams. Managed by three experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.

About Samson Capital Group

Samson Capital Group is a Dallas-based private equity firm focused on acquiring and growing lower middle-market companies in partnership with experienced, high-quality independent sponsors and operating executives with proven track records. The firm targets companies with $3 million to $15 million of EBITDA and actively supports decisions that foster substantial long-term growth and value creation. SCG's principals possess significant experience investing in lower middle-market businesses and have unlocked value for its companies by providing them with resources, relationships, and support needed to execute organic and acquisitive growth plans. For more information, visit www.samsoncg.com.

Media Contact:
LP First Capital Investor Relations
[email protected]

SOURCE LP First Capital