(March 8, 2010, Boston, MA) - Alexander Pyle, a shareholder with the law firm of Sheehan Phinney Bass + Green PA, recently represented RentGrow, Inc., a leading provider of online resident screening services for multifamily property management firms, in its acquisition by Yardi Systems, Inc.
Yardi acquired the Waltham, MA based company to offer resident screening as part of the Yardi Multifamily Suite™. With the addition of RentGrow's technology to Yardi's integrated multifamily products, Yardi is able to help clients operate more efficiently, maximize net operating income, and better manage risk. The acquisition allows Yardi to meet a growing demand among multifamily housing providers to incorporate credit checks, rental payment history searches, background checks, and other applicant screening functions into their core property management system.
Michael Lapsley, president of RentGrow commented, "We are very excited to become a part of the Yardi organization. Both Yardi and RentGrow have been serving the multifamily industry for decades. This alliance brings tremendous benefits to our company, our customers, and the industry." Attorney Pyle commented "There were terrific business synergies behind this transaction. We were delighted to help move this deal to a swift closure that resulted in a very positive outcome for RentGrow, its investors and employees."
Attorney Pyle is a shareholder and Head of Sheehan Phinney's Boston Office. He is a corporate attorney with extensive experience representing established and emerging businesses in commercial and strategic transactions. His practice includes representation of companies, as well as their founders, investors and executives. Pyle has particular expertise in representing software, communications, consulting, life science and other technology-based businesses, both public and private, and also advises more traditional business enterprises. He is a co-author of the book Raising Capital for the Emerging Business.
Sheehan Phinney is a full service law firm representing national and international clients with innovative approaches and practical solutions. Founded in 1937, Sheehan Phinney has grown to 61 attorneys with four offices throughout New Hampshire and Massachusetts. The firm is known for professional excellence, practical counsel and commitment to both its clients and the communities it serves.