SANTA ANA, Calif., May 2, 2002 -- National Water & Power (NWP), a provider of billing and utility management services to the multi-family real estate industry, announced the appointment of two new senior executives.
Scott Southron has been named an NWP senior vice president and the company's chief financial officer. John De Simone will serve as vice president responsible for NWP's corporate development.
Southron will oversee the company's entire financial operations and will serve as a member of NWP's corporate strategic planning team. Reporting directly to Randy Lintecum, NWP's chairman and chief executive officer, Southron will also be responsible for investor relations, the development of NWP's equity and capital plans, managing internal auditing, regulatory compliance, corporate financial reporting and tax planning.
John De Simone as vice president corporate development will report to Southron. De Simone will be responsible for identifying and developing the company's opportunities for corporate strategic alliances, marketplace partnership programs and potential acquisitions. De Simone will also support the development of the company's equity and capital programs and will ensure that the company's operational procedures remain properly aligned with its long-term vision.
"We are very pleased to have Southron and De Simone join the executive team at NWP," said Randy Lintecum, NWP's chairman and CEO. "As NWP continues to lead the rapidly expanding billing management and customer care industry each of these executives will bring significant knowledge, expertise and experience to their positions, particularly in positioning the company for long-term financial growth, raising public and private equity, evaluating strategic options and opportunities and in building the financial and operational performance metrics required for a market company."
Southron joined NWP from Roth Capital Partners, where he was co-head of the technology investment banking practice. While at Roth Capital Partners, he was responsible for raising both public and private equity and served as an advisor on numerous mergers, acquisitions and valuation engagements. Prior to his tenure with Roth Capital Partners, Southron served as managing director of Corporate Finance for MCI Systemhouse, and in various senior financial roles with the Walt Disney Company. He is a certified public accountant who began his career at Price Waterhouse.
Before joining NWP, John De Simone held director of planning and vice president of transactions positions at HomeStore.com. De Simone helped guide HomeStore.com's growth from $30 million in annual revenue to more than $400 million, and raised more than $600 million via public offerings. While at Homestore.com he managed the completion of more than 30 acquisitions and equity investments.
About National Water & Power
National Water & Power (NWP) is a privately held company headquartered in Santa Ana, Calif. NWP provides a broad range of billing and customer care solutions to both the real estate and utility industries. NWP's billing and sub-metering operations service more than a half million apartment units in 42 states for some of the country's largest public and private property owners. Open-c Solutions, is a wholly owned subsidiary of NWP, and is located in Minneapolis, MN. Open-c Solutions develops and implements customer information systems (CIS) software for major utilities, services providers and billing service bureaus.
