Foundation Title & Escrow announced it is expanding its footprint in Alabama through its merger with Paulus Title.
This is the latest in a series of growth expenditures for Tennessee-based Foundation Title & Escrow. Previously, the company expanded its territory into Florida’s Emerald Coast area.
As part of this merger, Paulus Title founder and CEO Craig Paulus will now serve as president of Alabama operations. Paulus Title’s two offices in Huntsville will transition to the Foundation Title & Escrow brand.
“This is a natural alliance,” said Chris Cantrell, Foundation Title & Escrow CEO. “Paulus Title and Foundation Title and Escrow have so many shared values, especially the focus on constant improvement and customer service. We look forward to serving our customers in Alabama and continuing to grow there.”
Paulus said merging the companies is about more than combining operations, but also includes joining the two companies’ technology.
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“I share the Foundation Title & Escrow goal of being the most innovative title company in our markets to give the best possible customer service,” he said. “We are excited to combine our talents and technology with Foundation Title & Escrow to continue providing premier title and closing services across the great state of Alabama.”
After last year’s record-breaking year, it comes as no surprise that title companies are looking to expand. But technology is also surging. A survey from the American Land Title Association showed remote online notarization soared 547% in 2020 after 29 states passed some kind of permanent RON legislation. Many experts agree that any notable growth will need to include a strong focus on technology in order to keep up with consumer expectations and demand.
And other merger and acquisition activity in the title industry continues to surge. Other notable m&a activity in the industry includes:
Earlier this week, Knight Barry Title announced its purchase of Title One as it expanded its operations in Minnesota.
National Title and Escrow, which is based in Dexter, Missouri, recently announced its acquisition of Mississippi County Abstract and Loan, based in Charleston, Missouri.
At the end of last year, Fidelity National Financial announced it hired a new leader as it expands its presence into the state of Georgia.
Stewart Title also made acquisitions to grow its presence in Alaska.