Stewart Title Acquires Border Title Group of Laredo, Texas
|January 4, 2007|
HOUSTON --- Stewart Title has acquired Border Title Group of Laredo, Texas. Existing management and staff will remain with the office, and former owner and chief executive officer, Evan Quiros, will assume the role of president at the newly named Stewart Border Title, LLC, which will continue to do business as Border Title Group.
"We're extremely happy to welcome Border Title to the Stewart family," said Larry Warren, vice president and associate region manager, Stewart Title. "They have been title-agency innovators, offering customers electronic title search capability for some time now and incorporating industry technology such as AIM® for Windows® and TitleSearch® into their plant system and day-to-day operations."
The acquisition of Border Title Group strategically positions Stewart to better serve South Texas multicultural communities where job growth is exploding at a rate far greater than in other U.S. markets.
According to Dr. Ted C. Jones, chief economist for Stewart Title and director of investor relations for Stewart Information Services Corp., Laredo experienced an employment growth rate of 5.51 percent compared to 1.32 percent for the entire United States during the last 12 months. "Job growth is everything in creating demand for real estate and the related number of sale-purchase transactions, making Laredo a long-term growth market," said Jones.
"We embrace the opportunity to join forces with a company that has for so long dedicated itself to improving the real estate transaction process for all those involved," said Quiros. "Stewart is an industry leader, with goals and values that seamlessly align with our own here at Border. It's going to be a very natural transition."
Source: Stewart Information Services Corp.