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First Property Management Company on the OBX Sold to Hospitality Expert

Sold by way of MidStreet Mergers and Acquisitions in 2016, ADLAM property management is the oldest and one of the most trusted property management companies on the Outer Banks. 

About the Company

For more than 35 years, ADLAM has offered financial, budgeting, billing & collection, maintenance & repair, and pool services to condominium and homeowner associations throughout the Outer Banks.

Seller’s, Bobby and Jenny Williams, have taken great care in building ADLAM’s reputation in the community, attracting many clients who have been with the company for more than 5 years. After many years in business, however, the pair wanted to sell their company and semi-retire.

“After several years of discussing selling our business, we started thinking about how to do this.” said Williams.

Selling the Business

“We had a lot of laughs before we ever got down to business," said Williams.

The sale was completed by Jeffery Baxter, President of MidStreet Mergers and Acquisitions. ADLAM received many inquiries during its short time on the market, and was acquired by a qualified buyer who paid cash for the business.

“ADLAM was the first property management company established on the Outer Banks, and the buyer of the business had a long career in customer service with one of the largest hotel chains in the country. It was an honor to work with the previous owners of ADLAM, and the buyer. said Baxter.

The buyer's of ADLAM were Martin and Kathy Regan.  Martin has been responsible for identifying new business opportunities, developing the property maintenance, landscaping and pool maintenance divisions of the company, and setting the vision for the company.

He has 32 years of hospitality and technology service with Marriott Hotels where he worked on 11 different properties of various sizes and types as a manager in all aspects of hotel management. Martin’s final role was as VP, Information Technology for Marriott and managed teams of 200+ associates with operating and capital budgets in excess of $20M.  He has his Master’s Degree in Information Systems and is PMP certified.

Kathy is the Vice President and Office Manager.  She works daily with our associations and vendors coordinating meeting needs, insurance coverage, and technology solutions for our homeowners.

She has 37 years of experience in the hospitality industry with Marriott Hotels. She worked on 5 different properties, including resorts and the largest hotel in Atlanta, as a manager in the Front Office and Reservations.  She finished her career at Marriott as a Director responsible for the business functionality of Marriott’s reservation system where she managed large teams of associates with a focus on outstanding customer service experience.

 

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