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Industry News

LandAmerica's Inspectech® Subsidiary Completes Acquisition in Texas and Arizona

January 12, 2005

Richmond, Virginia – LandAmerica Financial Group, Inc. (NYSE: LFG), a provider of real estate transaction services, through its subsidiary Inspectech, Inc., announces the purchase of Home Critic, Inc. of Austin, Texas, and Landmark Home Inspection LLC of Phoenix, Arizona. With this move, Inspectech, one of the nation’s largest home inspection companies, further expands its presence in Texas and Arizona.

Operating since 1989, Home Critic provides residential property inspections in Austin and San Antonio. Billy Meyerdirk, the company’s founder, will continue to manage the local operation for Inspectech.

Landmark Home Inspection specializes in new construction inspections and will be consolidated into Inspectech’s current Arizona operation. Chris Prickett, Landmark’s founder, will remain with Inspectech to head its new construction business.

All inspectors of both companies are expected to join Inspectech, with backroom operations consolidated into Inspectech’s National Support Center located in Alpharetta, Georgia.

Source: LandAmerica Financial Group, Inc.

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