Stewart Acquires Fidelity Title Company, Inc. of Los Lunas, New Mexico
|March 15, 2000|
HOUSTON, /PRNewswire/ -- Stewart Information Services Corporation (NYSE: STC) today announced its subsidiary, Stewart Title Company, has acquired Fidelity Title Company, Inc. of Los Lunas, N.M. The firm's prior owners, Georgia and Rex Kirkham, will continue in their present positions and the company's name will remain unchanged.
"With this acquisition Stewart continues its important growth in New Mexico," said Stewart's Group President Glenn Clements. "New Mexico offers good expansion opportunities and a wonderful regulatory environment for us."
"By streamlining costs and forming an alliance, we will be able to expand our presence in Valencia County and offer real estate agents, developers, builders as well as home buyers and sellers a wider array of services," said Glenn Schwerin, president of Stewart Title, L.L.C. in Albuquerque.
"Our decision to align with Stewart allows us to provide a greater range of title products to residents and real estate people in our community whose needs are changing in this fast-growing area," said Georgia Kirkham, president of Fidelity Title Company, Inc.
The Kirhams purchased the company in 1984, five years after it opened. Under their leadership, Fidelity has gained considerable market share and today is one of the leading title companies in Valencia County.
"We are pleased to have these two outstanding and highly respected real estate professionals associated with Stewart Title," said Schwerin. "Their solid performance as business people and residents of Valencia County for more than 20 years makes them a great asset to our company."
Source: Stewart Information Services Corporation