Canadian Firm to Acquire All American Title Group for $9M
March 28, 2023
Canada-based Starrex International Ltd has acquired All American Title Group of Companies for $9 million.
The transaction, which was approved unanimously by Starrex's board of directors, includes All American Title Co. Inc., Ameripine LLC, AmeriFirst Title LLC, AAT Holdings LLC and Amcap Title LLC.
All American Title was founded in 1999 in Minnesota by Kevin Webb. In 2004, Kevin Gartland joined All American Title as a principal partner. The company operates 10 offices and has 57 employees providing title and escrow services in Minnesota and Wisconsin.
On a consolidated basis, based on management prepared, unaudited financial statements, All American Title generates $10 million in revenue from title insurance premiums annually with an average net income, before taxes, of $2 million.
All American Title will serve as the operational platform for the insurance division of Starrex, which provides title and credit reporting services to mortgage lenders and real estate brokers.
"We are extremely excited to enter into this transaction to acquire All American Title and have the opportunity to partner with such a principled, long-standing and exceptionally run business,” said Matthew Hill, president and CEO of Starrex. “All American Title initiates the execution of our strategic vision to enter the U.S. real estate title space on a national scale. We are excited to welcome them to the Starrex team. Both Kevin and Kevin will prove to be valuable members of our team as we move forward."
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