NWP Strategic Financing

IRVINE, CA--(Marketwire - July 27, 2010) -  NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, today announced it has secured a new financing facility of $42 million to accelerate the company's strategic initiatives, including new product and services development, domestic and international acquisitions and to provide additional working capital.

The company recently expanded its national footprint with the acquisition of the Multifamily Services Division (CBSI) from Vertex Business Services, a Tampa-based provider of billing, energy management and meter installation and maintenance services to multifamily and commercial real estate properties. As a result, NWP now has major operations in Irvine, California; Austin, Texas; Tampa, Florida and, Norcross, Georgia plus 15 other satellite locations throughout the United States.

"We are very well positioned to provide local and regional expertise and ensure localized support to our customers and continue to look for quality opportunities to acquire other companies in our space to assist us in achieving our strategic goals," said Michael Radice, president and CEO of NWP.

About NWP Services Corporation:
Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. NWP's utility management product, UtilitySmart, helps owners and operators optimize utility spend, increasing in Funds from Operations (FFO), Net Operating Income (NOI) and the asset value of multifamily properties. Additional information is available at www.nwpsc.com.

About Seneca Partners:
Seneca Partners is a private investment and investment banking firm serving middle market companies in the healthcare, technology, business services and high-value manufacturing industries. Drawing on its management, investment and transaction experience, Seneca Partners provides the guidance and resources necessary to navigate the complexities of managing growth and executing acquisitions, divestitures and other strategic initiatives.

In select situations, Seneca Partners provides debt, mezzanine or equity capital, directly or with its partners, to fund growth financings, acquisitions or change of control transactions for companies serving Seneca's target industries. Seneca Partners also manages Seneca Health Partners, a venture capital fund dedicated to supporting emerging healthcare product, service, device and technology companies based in Middle America. For additional information you may contact Seneca Partners by calling 248.723.6650.