Rapidly expanding Odevo surpasses one million homes under management across Europe and U.S. with arrival of UK-based The Vegner Group and Finland-based ISTO and M2
LONDON, UK and STOCKHOLM, SWEDEN / ACCESSWIRE / September 12, 2023 / Odevo, an international leader that is driving change in the traditional property management industry, continues its rapid global expansion with the additions of UK-based The Vegner Group and Finland-based ISTO and M2. Odevo now has more than one million homes under management worldwide following the arrival of the three property management companies. Five companies have joined Odevo across Europe and the U.S. this year.
Vegner Group Limited is a leading residential property management group in the UK with 475 employees, over 100,000 homes under management and a nationwide reach across 20 office locations. Vegner specializes in serving Residents Management Company (RMC) clients, which operate similarly to homeowner associations (HOA) in the U.S., bringing further expertise and specialization to Odevo's range of competencies. It also has unique proprietary accounting software and incorporates a high-performing tech team.
ISTO and M2 bolster Odevo's position in eastern Finland, increasing the number of properties under management by 19,000 and customers by 1,100. In Finland, Odevo is rolling out its technical property management platform, the first of its kind in the country. Today, the platform is used by more than one-third of Swedish housing associations.
These pivotal additions come shortly after Odevo made its entry into the U.S. with Florida-based KW Property Management & Consulting and Texas-based Spectrum Association Management joining the group.
"Our goal is to set an example for others in the industry and become the international leader in residential property management," said Odevo CEO Daniel Larsson. "The three new additions are all successful companies that will help us achieve that ambition. We have been in discussions with several companies in Europe - and other markets - for some time and anticipate further additions this fall."
Odevo is on a mission to become the driving force within the residential property management industry by leveraging the combined power of people and technology. The Vegner Group is the fourth business in the UK to join Odevo, following Rendall & Rittner, Premier Estates and Trinity Property Group, further strengthening Odevo's footprint. Odevo has grown more than 30 times in just four years and is now home to over 5,000 employees, with an annual revenue of nearly $350 million USD.
Odevo has a unique approach to building a leading international group by empowering strong teams and companies while creating value across the group. As part of the group, these companies can leverage their strengths and expertise while benefiting from the collective resources and support of Odevo in areas such as technology, financial services, human resources, and compliance - among others. This approach results in substantial buying power, technical and operational resources that provide considerable value to clients, helping them navigate the increasingly complex world of property management on a cost-effective basis.
"We share Odevo's ambition to develop our employees and streamline work for both customers and staff by digitizing much of the manual tasks while also pushing the property management industry to improve as a whole," said Alec Guthrie, CEO of The Vegner Group. "By joining forces with Odevo, we will be able to leverage their collective resources in various areas of our business. We will also gain access to world-class technology solutions that we can offer to our customers. We look forward to working together to deliver a leading service to our customers."
Odevo plans to continue its strong growth journey, both organically and by attracting additional companies to join the group. This approach has secured leading positions in Sweden, Finland, the United Kingdom and the United States in just a few years. The company has greatly increased its investment in technology and digital transformation and now employs close to 100 software engineers developing bespoke industry solutions.
About Odevo
Odevo is a connector of exciting brands with a shared vision of challenging status quo in the property management industry. Established in 2019, Odevo is a fast-growing international company challenging the property management industry, not least through its focus on technology innovation. The Odevo Group consists of 5000 employees and has an annual revenue of nearly $350 million USD. The average growth between 2019 and 2023 was 59% per year, about 13% of which was organic. Odevo plans to continue its strong growth. We invite more brands to join our journey to transform the homeowner experience all over the world. Visit https://odevo.com
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SOURCE: Odevo
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