Over the last few years, Incenter, a Blackstone Group portfolio company, expanded its business offerings through a series of deals.
The company launched a mortgage-focused broker-dealer called Incenter Securities Group, invested in cloudvirga, a provider of mortgage process automation, and expanded into title and settlement services by acquiring Boston National.
But the Boston National deal wasn’t Incenter’s only move into title and settlement services.
Last year, Incenter also announced that it planned to acquire Agents National Title Insurance Company, a provider of residential and commercial title insurance services through a national network of independent title agents.
That deal is now complete.
Incenter announced Thursday that finalized the acquisition of Agents National Title Insurance Company, which was founded in 2005 and is headquartered in Columbia, Missouri.
Agents National Title Insurance Company (ANTIC) holds licenses in 18 states and has regional offices in Indiana and Texas, and supports more than 150 agencies with over 3000 employees.
John Keratsis, senior managing director of lender services at Incenter, said that acquiring ANTIC will help Incenter provide improved services to its clients.
“Our goal at Incenter is to partner with our clients to solve their most pressing business challenges. One of the largest challenges facing many of our clients is the time required to complete a transaction and how to shorten that timeframe while providing excellent customer service,” Keratsis said.
“Our experience has shown that one of the solutions to tackle this challenge is title insurance, which has been a key driver for us bringing ANTIC into the Incenter family,” Keratsis added. “ANTIC has a demonstrated track record of helping title agents get loans closed as fast as possible while delivering meaningful service promises through talent and technology.”
David Townsend, president of ANTIC, said that being backed by Incenter will allow the company to grow.
“Our mission at ANTIC is to reset industry standards for what makes a great title underwriter,” Townsend said. “As part of the Incenter family, we will continue to support title agents with fast, reliable underwriting services. We are committed to the growth of the business and look forward to entering new markets and growing awareness in key geographies.”
Financial terms of the deal were not disclosed.