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Posts Tagged ‘Title Company’

Cendant to Acquire Prominent Title Companies Based in Texas

Wednesday, November 2nd, 2005

Cendant Settlement Services Group (CSSG), a subsidiary of Cendant Corporation (NYSE: CD - News), today announced that it has signed a definitive stock purchase agreement with owner Herbert L. Williams to acquire American Title Company of Houston, Texas American Title Company, Title Resources Guaranty Company and their related title companies based in Texas. Subject to state insurance regulatory approvals and other customary closing conditions, the transactions are expected to close within 60 to 90 days. The terms of the transaction were not disclosed, and it is not expected to have a material impact on the financial results of either Cendant or its Real Estate Services Division.

These acquisitions establish CSSG’s entrance into the Texas market with a direct title operation and an in-state footprint highlighted by a large presence in Houston and Austin. Texas American Title Company is the largest independent title agency in Texas. Today’s announcement also marks CSSG’s initial venture as sole owner and operator of a title insurance underwriting business, Dallas-based Title Resources Guaranty Company.

The Potomac Company initiated the transaction and acted as finder. Please call Paul Giannamore at 215-396-2011 for more information.

Marc Miller Joins The Potomac Company as Head of Title and Settlement Services

Thursday, August 25th, 2005

Marc Miller has joined The Potomac Company as Managing Director - Title and Settlement Services. Mr. Miller, based in Dallas, Texas, will be covering the Title industry nationally, from an investment banking as well as research perspective.

Mr. Miller began his career as a title agency representative for Lawyers Title Insurance Corporation where he learned the grass roots of the business. He moved into the title agency business in 1979 where he developed a niche in marketing strategies for new business and expansion.

In 1981 he joined Ticor Title Insurance of California as a national accounts representative and over the next ten years created a pathway that lead to a promotion to Regional Manager for a 7 state territory.

Having established himself in the operational field he continued in various assignments until 1996 when he launched Texas Title Company, A wholly owned subsidiary of American Title Company. Over a three year period of time Texas Title grew to become the 15th largest title company in the Dallas/Fort Worth area.

In 2000 he took the helm of American Title, the number one ranked company in Dallas and led both companies until 2003.

As his final challenge in the title business Miller launched Capital Title of Texas in connection with a local bank and grew the company to $10 million in annualized revenue before departing in June to pursue an affiliation with The Potomac Company.

Mr. Miller truly understands the title insurance industry having served in executive positions with a title insurance underwriter and title agency. His expertise in operational execution, marketing strategy and technology platforms provide The Potomac Company with the tools necessary to understand your business model and the probable acquisition target that would be most adaptive to your culture.

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