In the last few years, Incenter grew its business by launching a mortgage-focused broker-dealer called Incenter Securities Group, investing in cloudvirga, a provider of mortgage process automation, and expanding into title and settlement services with the acquisition of Boston National, a provider of title and settlement services.
Now, Incenter, a Blackstone Group portfolio company, is expanding its burgeoning title insurance business with a new acquisition.
Incenter announced Thursday that it signed a purchase agreement to acquire Agents National Title Insurance Company, a provider of residential and commercial title insurance services.
Agents National Title Insurance Company was founded in 2005 and is headquartered in Columbia, Missouri. The company, through its subsidiaries, also offers a software system that connects and coordinates all aspects of the real estate transaction, and consulting services and fee-based educational offerings for its agents.
“Our goal within Lender Services is to provide solutions to the growing list of pain points that originators of all sizes have in any market environment and the addition of Agents National Title Insurance Company solidifies the foundation of our offering,” John Keratsis, senior managing director for Lender Services at Incenter, said.
“Title insurance is a critical component of every real estate transaction and the ANTIC leadership team has a proven track record of building productive long-term relationships with all parties to a sale,” Keratsis added. “This expertise, underpinned by a nimble technology platform, enables us to meet the needs of our clients even more effectively.”
According to Incenter, David Townsend will serve as president of ANTIC, Brent Scheer, will serve as chief financial officer and chief operating officer, and Pat Carney will serve as chief strategy officer.
Cheryl Cowherd, senior underwriting counsel, Lori Dorman, director of risk management and other staff will also remain in place at the headquarters in Columbia, and at the company’s satellite offices across the country.
“Since inception, ANTIC has focused on protecting an integral component of all real estate transactions while simultaneously building our business to drive technological change in an industry often reluctant to it,” Townsend said.
“Incenter has taken a similar approach and we have found a likeminded partner in the Lender Services team. ANTIC is well-positioned to bring value to relationships across Incenter’s lines of business as well as to its affiliates,” Townsend added. “As we expand our operations we will be looking to partner with quality title agents in our new markets and with the Lender Services team to create a national platform of title agents and settlement service providers.”
Financial terms of the deal were not disclosed.