Core Insights - TPG has signed a definitive agreement to acquire a majority stake in Conservice, a leading utility management platform for the property management industry, with TPG Capital investing alongside Advent International, which will retain a significant stake [1][5] Company Overview - Conservice, founded in 2000, provides tech-enabled utility management tools to property managers across the U.S., streamlining workflows for nearly 8 million units and connecting operators with over 20,000 utility providers [2] - The company's solutions focus on metering, billing, payment, procurement, and analytics, enhancing energy efficiency and reducing costs for property managers [2] Strategic Importance - Conservice's utility management offerings integrate fragmented workflows, improving accuracy and speed for property managers in both residential and commercial sectors [3] - TPG expresses confidence in supporting Conservice's growth, emphasizing the importance of its market-leading products and technology [3] Investment Background - Advent International has partnered with Conservice since 2016, contributing to its platform expansion and solidifying its leadership in utility management [4] - TA Associates will fully exit its stake in Conservice as part of this transaction, having been involved since 2020 [1][4] Transaction Details - The acquisition is expected to be completed in the first quarter of 2026, pending customary approvals and closing conditions [5]