Investment Firm Partners With Title Companies to Create Tech-based Platform
April 10, 2018
Panorama Point Partners, an Omaha-based private equity firm that specializes in working with middle-market growth-driven companies, has partnered with two title companies to create a technology-based title and escrow platform company.
Called Nerio Group, the strategy is to create a technology-centric title platform serving all facets of the mortgage loan cycle, including residential purchase, refinancing, home equity, default and curative services and commercial services.
The firms involved include Tenura Holdings, an Austin-based private investment company that owns Reliant Title. Also involved in the partnership are Vantage Point Title, Vantage Point Escrow and Reliant Title. Nerio Group invested in these three companies in March.
“Escrow, sales professionals and consumers in the title insurance industry have less and less choice as the industry continues to consolidate,” commented Ali Hedayatifar, president of Nerio Group. “We believe that Nerio is well positioned to provide a unique alternative in the marketplace by offering customers and title and escrow professionals a comprehensive set of resources including state of the art technology, an obsession with customer service; strong focus on compliance certifications and practices and a growing, entrepreneurial culture of employee empowerment. We are very pleased to be partnering with Panorama to build this platform company, as they have a proven history of helping middle market companies achieve their growth objectives, through acquisition and organic growth initiatives.”
Jackson and his partners founded Vantage Point in 2008 and created a national, technology-centric title, escrow and default services company. Clearwater, Fla.-based Vantage Point can integrate its platform directly into loan origination systems. Combined, Vantage Point Title, Vantage Point Escrow and Reliant Title operate in 43 states.
“I am proud to partner with Panorama and Tenura in the formation of Nerio Group,” Jackson said. “Having the opportunity to work with individuals and organizations with a similar mindset of customer first—technology-driven title services made this a natural fit for me and the Vantage Point companies. The synergies of the combined entities and the strategy for growth and acquisition is tremendously exciting for not just Nerio but the title industry as a whole.”
Owned by Tenura Holdings, Reliant Title was founded in 2007 and is backed by the private family office owned by James Mansour. Reliant provides a complete suite of title and escrow services, including purchase, refinancing, REO, and default services in the residential and commercial markets. Reliant has 12 branches in Arizona, Nevada and Texas.
“I am excited to partner with Robert Jackson and the Vantage Point team,” said Reliant Title’s President, Rob Law. “This transaction allows Reliant Title to expand its footprint nationally, leverage a cutting edge operating technology and streamline support departments through shared services.”
Panorama Point Partners contributed the private equity for the investment. Tennenbaum Capital Partners, a leading private debt firm, provided the debt financing. Piper Jaffrey acted as investment banker.
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