Corridor Capital Unlocks a New Door, Invests in Association Headquarters

January 8, 2024 | Transactions

Los Angeles, CA – Corridor Capital announced January 8, 2024 an investment in Association Headquarters, LLC (“Association Headquarters,” “AH” or the “Company”) in collaboration with management, to support the Company’s expansion and continued development of value-added services for its clients. This is the firm’s seventh platform investment from Corridor Capital III, L.P. and Corridor’s first foray into the association management service sector.

Founded in 1978 and headquartered in New Jersey, Association Headquarters is a leading association management company (“AMC”) offering a comprehensive suite of outsourced services to national associations and nonprofit organizations. The Company’s value-added services include membership support, financial services, credentialing management, marketing and communications, meetings and events support, board management and other miscellaneous services to enhance the operational efficiency and effectiveness of associations. Association Headquarters empowers its clients to attain measurable success across four pivotal domains: diversified growth, engaged and disciplined leadership, intelligent use of technology and unwavering dedication to their missions. Serving as a foremost advocate for association sustainability and growth, Association Headquarters leverages its expertise, educational initiatives and forward-thinking approach to spearhead progress. The Company has a proven track record of delivering exceptional outcomes, creating impactful experiences and fostering outstanding achievements for client organizations.

Corridor Capital is pleased to announce this strategic partnership with Association Headquarters, aimed to enhance and expand services, explore strategic acquisitions and solidify the Company’s position as a market leader in the association management industry. With a shared commitment to excellence, Corridor Capital and Association Headquarters look forward to a dynamic alliance that will continue to deliver exceptional value to clients and stakeholders and unlock new growth opportunities.

The leadership team, including President and CEO Bob Waller, Jr., CAE and Chief Executive Relationship Officer Mike Dwyer, CAE, will remain with the business in their current roles and are excited to engage with Corridor to accelerate the Company’s growth. Moreover, Bob and Mike remain material owners of the business.

“We are honored to enter the association management industry through our investment in Association Headquarters,” said Corridor CEO, Craig Enenstein. “Corridor’s Managing Director of Business Development, Shaun Wright, has explored the Association Management Company sector over the course of several years and we are thrilled to have found what we believe to be a scalable platform for growth. This collaboration reflects our confidence in the sector’s resilience and the tremendous potential for growth. We look forward to contributing to the continued success and service excellence of Association Headquarters.”

“Association Headquarters’ commitment to delivering comprehensive, value driven, customer-focused and innovative business process outsource offerings to its customers has established it as a trusted partner to numerous associations and nonprofit organizations nationwide. We are thrilled to partner with Bob Waller, Mike Dwyer and the entire Association Headquarters team to support the Company’s vision and continued growth,” said Corridor Managing Director, Iman Navi.

“I am extraordinarily proud of our team at Association Headquarters and our shared success building AH into a leading association management services provider. Bringing on additional resources and support from Corridor is a critical step in our continued development and I am excited to welcome Corridor into the Association Headquarters family. Through our partnership with Corridor, we are excited to continue the Company’s upward momentum through growing the customer base, expanding our service offering, targeted acquisitions and continuing to serve our clients with skill, knowledge, care, and quality,” said Association Headquarters President & CEO Bob Waller, CAE.

“This strategic collaboration with Corridor Capital marks a significant milestone in the Company’s trajectory, offering a platform for sustained growth and innovation in the dynamic landscape of association management services. I believe the combined strengths of Association Headquarters and Corridor Capital will not only fortify the Company’s market position but also raise the bar for excellence in delivering comprehensive association management services. The shared values and strategic alignment will pave the way for new opportunities and enhanced client satisfaction in the evolving realm of association management,” said Association Headquarters Chief Executive Relationship Officer Mike Dwyer, CAE.

Strategic Exit Partners Advisory served as exclusive advisor to the Company. Morgan, Lewis & Bockius served as legal advisor and Kroll, LLC provided financial diligence support to Corridor Capital. Old Second National Bank provided debt financing in support of the investment.