LandAmerica Expands Presence in Chicago Area and California
May 13, 2004
Acquires Chicago-Based Universal Title Services and CA-based Channel Islands Escrow
RICHMOND, Va., LandAmerica Financial Group, Inc. (NYSE: LFG), a provider of real estate transaction services, through its Lawyers Title Insurance Corporation subsidiary, announces the purchase of Universal Title Services, Inc., an Illinois corporation with offices in McHenry and Crystal Lake, Illinois.
Universal Title was founded in 1987. Company principal Thomas A. Terry will remain following the acquisition and serve as Vice President and Manager - LandAmerica/Universal Title. "We are excited about joining the LandAmerica family," says Terry. "LandAmerica shares our commitment to providing customers with unsurpassed solutions and service, and with the backing of LandAmerica's substantial financial resources, we'll serve Chicago area customers even better in the future."
Gary Opper, Executive Vice President - Midwest Regional Leader for LandAmerica adds, "Universal Title's dedication to superior customer service, talented executive leadership, and customer base makes them a great fit with our existing operations in metropolitan Chicago. Having such a progressive company become part of LandAmerica is an important step in our growth strategy."
Lawyers' Title also acquired Channel Islands Escrow, Inc., in Oxnard, California. This strategic move enhances LandAmerica's presence in Oxnard and the surrounding areas of Ventura County.
Channel Islands Escrow was founded in 1989. Company principal Jan Moore will remain following the acquisition and serve as Branch Manager and Escrow Officer. "After 15 years of providing escrow services to our community, we believe the timing is perfect for joining the LandAmerica family," says Moore. "Under the Lawyers Title umbrella, we can instantly access numerous additional products and services on behalf of our customers. The blending of LandAmerica's extensive financial and technological resources with our original goal of 'professional service with a personal touch' means we'll deliver even better service to our customers in the future."
Margaret Foster, Executive Vice President - West Regional Leader for LandAmerica adds, "Channel Islands Escrow shares our commitment to exceeding customer expectations and their wide variety of escrow services makes them a great fit with our existing California operations. Welcoming this dynamic company to LandAmerica is an important step in our growth strategy."
Source: LandAmerica Financial Group, Inc.