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Case Studies

Forth Group

How Parkland Capital Partners guided a premier founder-led HOA and condominium management firm through a competitive market check to maximize valuation and secure the ideal strategic partner.

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Forth Group

Sell-Side Advisory | Competitive Process and Strategic Partner Selection

Client Snapshot

Forth Group is a founder-led condominium and HOA property management business serving the Illinois and Wisconsin markets. The company had built a strong reputation for service quality, recurring revenue, and disciplined operations within a specialized segment of the property management industry.

The Opportunity

Forth Group had received inbound acquisition interest from a potential buyer, but the founder had not tested the broader market and wanted to understand whether the initial indication reflected the true value of the business. The objective was not simply to find a buyer. The goal was to run a thoughtful process that could validate value, create competitive tension, improve transaction structure, and identify a partner aligned with the company’s employees, customers, and long-term direction.

Parkland’s Role

  • Parkland was engaged to advise Forth Group through a targeted sell-side process.
  • Parkland built a curated buyer universe of strategic and financial acquirers active in property management, condominium management, HOA management, and related residential services. The team positioned Forth Group around its recurring revenue base, operating discipline, customer relationships, and relevance within an attractive niche of the property management market.
  • Parkland managed buyer outreach, process strategy, diligence coordination, valuation discussions, LOI negotiation, and transaction support through closing.
  • The process was designed to create a credible market check while protecting the founder’s time, maintaining confidentiality, and preserving optionality throughout the negotiation.

Outcome

Parkland’s process generated multiple qualified offers and created meaningful leverage against the initial inbound indication. The final transaction delivered a materially improved outcome for the founder, including a stronger valuation, enhanced cash-at-close economics, and a more attractive overall structure than the original offer contemplated. Following the transaction, the relationship continued through a buy-side mandate focused on expanding the platform across Illinois and Wisconsin.

Client Perspective

Austin and the Parkland team were instrumental in creating the transaction we actually wanted. They provided guidance at every step. We received multiple LOIs through their outreach, used the competitive tension to push valuation, and closed cleanly with an ideal buyer at a valuation I am very happy with.

— Scott Seger, President, Forth Group