Ohio-based Northwest Title Expands to Six States Following Merger
|September 10, 2013|
Northwest Title, a family-owned and operated title insurance agency that has served the Columbus and Central Ohio market since 1967, recently merged with Arrow Title Agency, a title insurance agency serving clients in six states from its Columbus headquarters.
Northwest Title President Scott Stevenson said his company’s long history in the residential real estate market in Columbus, combined with Arrow’s wide array of services and geographic footprint, make the two firms a perfect match.
“These two companies complement each other wonderfully,” he said. “Northwest has nine offices in the Columbus area, while Arrow has offices in other cities around the state as well as in Kentucky. Arrow brings experience in the commercial title insurance market to the team to go with our residential expertise.”
The combined company will be licensed to operate in six states, including Ohio, Kentucky, West Virginia, Michigan, Indiana and Florida.
All existing local offices of Northwest Title and Arrow Title will maintain their name while operating under the Northwest Title corporate umbrella. The firm will also include a separate law practice with five attorneys.
The combined company will have more than 80 employees and 16 closing locations. Stevenson said there are no plans for any reductions in staffing. In fact, Stevenson said the new firm plans to add positions aggressively,
“We need all hands on deck because our plan is to grow and the current staffs of Northwest and Arrow are the foundation,” he added. “One of the things that I highlighted with our team is the opportunity here because our plans are to grow and grow quickly.”
Jonathan Holfinger, president of Arrow Title, echoed Stevenson’s sentiments about the match.
“Northwest Title and Arrow Title are two companies with similar visions and philosophies about our industry and about how our corporate culture should be,” Holfinger said. “When you combine that with the fact that our footprints are complementary to each other, these two firms really do fit together perfectly.”
Stevenson noted that he believes that larger regional firms like the combination of Northwest Title and Arrow Title will be the norm in coming years based on regulatory changes in the title industry.
“New regulations coming from the Consumer Financial Protection Bureau will require larger investments in computer networks and data security,” he said. “A larger firm will have the resources to keep up with the required improvements. So in addition to the fact that Northwest and Arrow are perfect matches for each other, we’re excited that we’ll have the size and strength necessary to provide the services that the residential and commercial real estate industries will need in the coming years. We are very excited for the future based on this new partnership.”