Nationwide and in Middle Tennessee, investors are pumping money into technology aimed at the multifamily real estate industry. Two weeks ago, multifamily giant Walker & Dunlop invested in Nashville-based technology company Fortress Technology Solutions.
Now, Omnia Partners, a Franklin-based group purchasing organization operating in both the public and private sectors, has announced it has acquired PAS Purchasing Solutions and Buyers Access — a multifamily-focused purchasing organization — for an undisclosed sum.
Omnia bought the tech platform company from Jones Boys Ventures, a Raleigh-based venture capital firm specializing in e-commerce businesses. Founded in Houston more than 30 years ago, PAS Purchasing Solutions and Buyers Access is a subscription-based online platform designed to help multifamily investors evaluate and improve net operating incomes.
"After 12 years, Omnia Partners’ expertise, resources and scale to deliver an even greater value proposition for our members, suppliers and associates makes it the ideal partner for the next phase of Buyers Access," Richard Jones, partner at Jones Boys Ventures, said.
Through the acquisition, PAS’ more than 300 employees will become Omnia Partners employees. For now, it's unclear which, if any, of the Texas company’s employees will relocate to Franklin. Omnia Partners has more than 200 employees — about half are based in Franklin, while the others work remotely.
Dan Haefner, the former CEO and president of PAS, will spearhead the consolidation of Omnia Partners’ multifamily wing and PAS’ technology.
“This transaction will consolidate the two leading multifamily GPOs under Omnia Partners in less than six months, and allow us to provide multifamily owners, operators and supplier partners with previously unforeseen opportunities,” Haefner said. “This truly is a win-win for everyone, and I am thrilled for our company and team to be joining such a successful and dynamic organization.”
Omnia Partners is currently preparing to move its headquarters to Franklin development McEwen Northside.