AKAM Living Services (“AKAM”) is a leading property management provider that serves condominiums, cooperatives, HOAs, and multi-family communities across New York and Florida. The company is the #1 property manager in the New York metro area1, managing 930+ properties and 156,000+ units through a three-brand approach (Orsid, AKAM, and Metro Management) serving the luxury, upscale, and mid-tier markets. In addition to its core recurring management services, AKAM offers a suite of high-margin ancillary services, including insurance, energy, transfers and closings, and brokerage.
AKAM Living Services
Company Overview
AKAM has built its market-leading position through meaningful organic growth initiatives, targeted acquisitions, and a service model tailored to the unique requirements of its customer base. The company emphasizes deep local density, long-tenured board relationships, and premium service delivery, which are its key differentiators in a relationship-driven industry.
Deal Background
Nautic invested in AKAM in 2020, targeting the large and highly fragmented community association management market. The thesis centered on backing a business with a leading regional market position, nearly 40 years of operating history, and an established base of recurring management fee contracts. Nautic saw significant opportunity to professionalize operations, expand high-margin ancillary services, and drive growth through M&A.
Nautic Value-Add
Following the investment, Nautic partnered closely with management to transform AKAM from a founder-led business into a scaled, professionally managed platform. This included recruiting a new leadership team, led by CEO Ken Greene and CFO Matt Pirozzi, who joined in 2023, alongside senior hires across operations, sales, technology, and M&A. Under Nautic’s ownership, AKAM invested heavily in its infrastructure, migrating to modern ERP systems, reorganizing service delivery, establishing an offshore capability, and building advanced analytics to sharpen go-to-market execution and improve profitability.
These investments, combined with a dedicated in-house business development team, drove consistent organic growth. In parallel, Nautic supported the build-out of the company’s M&A playbook, successfully executing and integrating five proprietarily sourced acquisitions, including Metro Management and Orsid, solidifying AKAM as the leading platform in the space.
Certain statements about Nautic made by portfolio company executives herein are intended to illustrate Nautic’s business relationship with such persons, including with respect to Nautic’s facilities as a business partner, rather than Nautic’s capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Nautic-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.