Waccamaw Management LLC president W. Press Courtney started his association management career at Chicora Association Management, and on Thursday, he and his two partners announced they had purchased his old employer.
“It’s a great blending of two strong companies,” Courtney said of the acquisition that will expand the reach of his Pawleys Island-based company to areas of northern Myrtle Beach and North Myrtle Beach.
Courtney said he intends to keep all of Chicora Management’s 26 employees to go with the 56 associations and 9,000 members, which will nearly double the membership size of Waccamaw’s 100-association, 20,000-member network that before the acquisition stretched from Johns and Seabrook islands near Charleston through Georgetown County and west to Conway.
He wouldn’t say what Waccamaw paid for Chicora.
“Waccamaw Management is extremely experienced in our field,” Don Smith, president of Coldwell Banker Chicora Real Estate, said in a news release. “They are one of the most technically advanced association management companies in the Southeast, and we believe our clients will be best served by this customer service oriented company.”
Smith couldn’t be reached for comment Thursday.
Chicora Association Management was formed in 1972 to serve Chicora’s residential customers in the Myrtle Beach area.
Waccamaw Management has been in business for 25 years, and Courtney said he and his two partners bought the firm from The Litchfield Co. seven years ago. He worked for Waccamaw after he left Chicora.
Waccamaw has offices in Pawleys Island, Carolina Forest and Grande Dunes, and Courtney said it will keep Chicora’s office on Briarwood Drive. The company had been leasing space in Carolina Forest but has recently completed new offices that it built there.
“The key to effective association management is communication,” Courtney said.
In that light, Courtney said Waccamaw has already begun contacting presidents of the associations the companies manage and has gotten a positive reception.
Waccamaw and Chicora are both full-service management companies, offering associations everything from covenants and inspections to fiscal and financial management.
Courtney said the combined company will offer its clients a lot more resources, a staff that combined has more than 100 years of association management experience and economies of scale.
“We can give them the latest and greatest of technology with the economies of scale so we can keep prices down,” he said.
Contact STEVE JONES at 444-1765.