Real estate technology company Compass signed a definitive agreement to acquire Consumer’s Title Co. of California, which has three locations across the state. The transaction is expected to close before the end of the quarter and the terms of the deal are not being disclosed.
“I am thrilled to welcome Consumer’s Title to Compass as we work to expand our closing services business throughout the state of California and beyond,” Compass Senior Vice President of New Business Pooneet Kant said in a release. “Consumer’s Title’s long-standing reputation for customer service speaks to the great work by their world-class, solutions-driven team whose ethical approach makes them ideal partners for Compass.”
Licensed in all 58 counties in California, Consumer’s Title expands Compass’ settlement services footprint in the region. Consumer’s Title has a team of over 40 escrow, title and sales managers. The company will retain the Consumer’s Title name following the acquisition and its leadership team – President Joe Beckerle, Executive Vice President and General Manager Meagan Sullivan, and CEO Brian Troop – will remain in their roles.
“Compass and Consumer’s Title both believe that pairing talented professionals with the best technology can make the title and escrow process more efficient and transparent for homebuyers,” Troop said. “We are very excited to join forces with Compass and look forward to continuing to grow our business by providing clients with the highest level of service and local expertise throughout California.”
The acquisition of Consumer’s Title expands Compass’ settlement services portfolio, which now serves California, Colorado, Florida, Washington state, Maryland, Pennsylvania, New Jersey, Virginia, Texas and Washington D.C.