HPN Sells its Group Purchasing Enterprise (HPN SELECT) to Buyers Access
HPN Select is acquired by Buyers Access, a merger which will bring unique opportunities to multi-family owners & operators across the affordable housing sector
Boston, MA (June 4, 2021) — The Housing Partnership Network (HPN), an award-winning national network of affordable housing developers, operators, and capital providers is pleased to announce its sale of HPN Select, a national procurement company serving many of the industry’s premier mission-driven affordable housing owners and operators, to Buyers Access, the leading multifamily group purchasing organization (GPO) in the United States.
HPN Select, one of the Housing Partnership Network’s successful and innovative social mission enterprises, was built and owned by HPN and a group of its members/customers beginning in 2015. “The sale of HPN Select to Buyers Access is the culmination of a period of building steady growth and strong fundamentals of the business” said Chuck Wehrwein, COO and EVP for HPN. He added, “this collaborative business is proof of what can be accomplished through collective action. Select has found a great home with Buyers Access.”
Buyers Access is one of the largest group purchasing organizations in the multifamily space, representing approximately 950,000 units, and sourcing products/services for owners and operators from more than 60 supplier partners. With this new partnership, Buyers Access will also become the preferred group purchasing organization for HPN members, and this acquisition will expand opportunities for affordable housing owners and operators to leverage buying power, reduce operating expenses, and generate more efficiencies (including more cost effectively buying green, healthy and sustainable products), all while supporting their unique missions.
“The acquisition of HPN Select is an extremely accretive and synergistic opportunity and will create considerable value-add to our customers and supplier partners, while substantially expanding our footprint in Affordable Housing,” Dan Haefner, President & CEO of Buyers Access said. “We are looking forward to a long and positive partnership with HPN and its network of members.”
“We are proud of the growth and success of HPN Select, and delighted about its acquisition by Buyers Access. We look forward to working together with the team at Buyers Access, and how this new partnership will continue to expand and enhance services and opportunities for our members,” said Tom Bledsoe, President and CEO of HPN.
To learn more about this acquisition, or to request more information, visit subsidy.buyersaccess.com.
ABOUT HOUSING PARTNERSHIP NETWORK
Housing Partnership Network (HPN) is a national collaborative of 100+ leading housing and community development nonprofits, as well as an Aeris-rated AA Four Stars Policy Plus CDFI and a leading national HUD-certified housing counseling intermediary. HPN members include affordable housing developers and owners, housing counseling agencies, CDFIs, and public housing authorities. Through practitioner-driven peer exchange, policy and innovation, HPN’s mission is to leverage the individual strengths and mobilize the collective power of our member organizations. Our vision is that all people live in vibrant and inclusive communities where access to affordable homes creates opportunity and economic mobility. Since our founding in 1992, HPN has collectively served over 12.8 million people; developed, rehabilitated, or preserved over 470,000 affordable homes; and launched over a dozen successful social enterprises. Our work has been recognized with honors including the MacArthur Award for Creative & Effective Institutions and Wells Fargo NEXT Award for Opportunity Finance. Current initiatives include the EcoGuide, a resource to guide comparison and incent procurement of healthier, greener products. Follow @HPN_Network on Twitter and continue the conversation on LinkedIn.
ABOUT BUYERS ACCESS
For over 35 years, Buyers Access has been the preferred group purchasing organization for some of the most respected multifamily owners and operators in the nation. Trusted for more than just our purchasing power, our team of experienced industry professionals leverage data and analytics to maximize supplier partnerships and optimize procurement, creating compelling measurable results, while adding substantial value to productivity and profitability. For more information, contact Lindsey Scholl at firstname.lastname@example.org.