Addition of KW Property Management & Consulting makes Group first community associations management company with leading positions on both sides of the Atlantic
Odevo, an international leader of the traditional property management industry, has established itself in the U.S. with KW Property & Management Consulting, a leading Florida-based property manager, joining the group. This marks both Odevo’s first expansion outside of Europe and its entry into the U.S., the world's largest market for property management. The U.S. will be Odevo’s fourth market, and the deal will increase Group revenue from $175 million USD to $315 million USD.
“We are very happy to become part of the Odevo Group,” said Paul Kaplan, founder and CEO of KWPMC. “Aligning with Odevo positions us to significantly enhance the depth and scope of our services and products, including technology, banking, and insurance, in an effort to consistently exceed our clients’ expectations and remain the market leader in property management in Florida and beyond.”
“Our goal is to become the global leader in residential property management,” said Odevo CEO Daniel Larsson. “This is an important step toward reaching that goal since we are the first player in the world to have a leading position on both sides of the Atlantic. It feels incredibly exciting to finally establish ourselves in the U.S., which we have been working on for a long time.”
KWPMC is one of the fastest-growing property managers in the U.S. with over 80,000 homes under management and 2,000 employees. The company has developed its own digital platform and grown organically since inception. It has an annual revenue of just over $140 million and an average organic growth rate of 18% over the last five years.
A three-time honoree on the annual Inc. 5000 list of the fastest-growing private companies in the U.S. (2019-2021) and winner of the 2021 South Florida Business Journal Business of the Year award, KWPMC was founded in 2004 and today operates across the state of Florida, where it manages some of Miami's premium properties. Six of the company’s 11 partners are female, and multiple KWPMC executives have received major recognitions including the South Florida Business Journal’s Influential Business Women and Diverse Voices awards, and South Florida Business & Wealth’s Prestigious Women Awards – among others.
With the addition of KWPMC, Odevo now has 3,800 employees, 590,000 homes under management and revenue of $314 million – a thirtyfold increase over four years.
"I’m very pleased to welcome our new colleagues at KWPMC to Odevo and to announce our establishment in the world's largest market,” said Larsson. “We see the same challenges and opportunities in the U.S. as in the European markets. The industry has lagged behind in terms of customer focus, digitalization and the development of new services. Together, we will continue to challenge and change this industry where there is such enormous potential. We plan to continue our strong growth journey, both organically and also by attracting more companies to join us."
Odevo has a leading position in Sweden, Finland and the UK. Odevo is challenging the industry with, among other things, its proprietary tech platform, and its ambition to become the leading international player in property and housing management. The company has greatly increased its investment in its platform and now has close to 60 developers. It also acquired the fintech company Monu, which provides technical infrastructure and financial services to the clients within the Group.
