SOURCE: NWP Services Corporation

NWP Services Corporation

September 27, 2010 14:00 ET

NWP Services Corporation Acquires Sierra Utility Billing Services

IRVINE, CA--(Marketwire - September 27, 2010) -  NWP Services Corporation (NWP), a leading provider of financial transaction processing solutions to the multifamily housing industry, today announced the completion of its acquisition of Sierra Utility Billing Services (Sierra). Sierra is an Austin, Texas-based provider of utility and specialty billing services, including energy management and meter installation and maintenance, to apartment communities across the U.S.

"We have seen NWP make the right investments in people and technology to provide a suite of world-class services which surpass the rest of the industry. The decision to proceed with this transaction was driven by Sierra's principal goal: enabling Sierra customers to further strengthen their bottom line. By utilizing the quality and breadth of products offered by NWP, this will be accomplished in ways we would be proud to offer," stated Cary Frieden, president and CEO of Sierra.

"NWP has always held great respect for the accomplishments of the Sierra organization especially from a service and quality perspective. We are pleased to have completed this acquisition primarily for the benefits we can deliver to our new customer family and the enhanced service efficiencies gained by our existing mutual customers," stated Michael Radice, president and CEO of NWP. "Sierra's customer service approach, working closely with on-site property management teams, has earned them an excellent reputation. NWP has long been committed to this service approach and the integration of Sierra will further strengthen our culture of ensuring delighted customers," Radice added.

Terms of the agreement were not publically disclosed.

The acquisition of Sierra follows NWP's recent acquisition of the Multifamily Services Division (CBSI) from Vertex Business Service in May 2010. The transition of CBSI customers to NWP's systems continues on schedule for completion in October 2010 and demonstrates the company's commitment and capability to implement new customers, large and small, from sales and acquisitions.

About NWP Services Corporation:
Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. NWP's utility management product, UtilitySmart, helps owners and operators optimize utility spend, increasing in Funds from Operations (FFO), Net Operating Income (NOI) and the asset value of multifamily properties. Additional information is available at www.nwpsc.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
    Email Contact