WOODSTOCK – Chicago-based Westward Management announced it has bought Howe Real Estate Services Inc., a property management company in Woodstock, to expand its business in the northwest suburbs.
Howe Real Estate Services, which was founded in 1992 and has about 20 employees, serves homeowner, condominium and town home associations throughout McHenry, Lake, Kane and DuPage counties. Terms of the deal were not disclosed.
“This acquisition is key to both our growth and diversification strategies,” Travis Taylor, a managing partner at Westward, said in a news release. “From a growth perspective, the purchase is in line with our strategy of complementing our organic growth by completing selected strategic acquisitions. Howe, in addition, mirrors our values and intense dedication to customer service and will help us continue to grow in their current service areas and beyond.”
Howe Real Estate Services founder Rich Howe plans to retire.
“After more than 20 years and an exhaustive search, I couldn’t ask for a more closely aligned partner,” he said in a statement.
Westward Management, which has offices in Chicago and Denver, said Howe Real Estate Services “will continue to operate out of its headquarters in Woodstock, retain its staff and will be supported by Westward’s systems and personnel.”