Title Resources Group (TRG) Completes Acquisition of Doma Holdings
On Friday, Title Resources Group (TRG) announced the successful closure of its acquisition of Doma Holdings, the parent company of Doma Title. The acquisition, initially revealed in late March 2024, marks a significant milestone for both companies.
The all-cash transaction valued Doma at nearly $88 million, with Doma’s underwriting division (DTI) now operating as a wholly owned subsidiary of TRG.
Scott McCall, CEO of TRG, expressed excitement about the merger, stating, “By combining DTI with TRG’s existing underwriter, we have solidified our position as the fifth largest independent underwriter in the United States. We are eager to leverage our enhanced scale to deliver greater value to our agents and partners in the marketplace.”
Following the acquisition, the technology division of Doma has been rebranded as Doma Technology LLC (Doma TechCO) and will function as a separately capitalized entity alongside TRG.
As part of the transaction, TRG and Doma TechCo will operate as sister companies, with Centerbridge Partners, the largest shareholder in TRG, serving as the majority owner of Doma TechCo through a subsidiary.
In addition to the acquisition, TRG also welcomed LENX, the strategic investment arm of homebuilder Lennar, as a minority investor in the company. McCall emphasized the significance of this partnership, stating, “Our collaboration with Lennar underscores our commitment to expanding our relationships within the homebuilding community. Having Lennar join as a part owner of TRG is a pivotal step in achieving that goal.”
Lennar joins Anywhere Real Estate Inc., HomeServices of America, Opendoor Technologies Inc., and Centerbridge Partners as owners of TRG. Eric Feder, President of LENX, expressed enthusiasm about the partnership, noting, “This strategic investment reflects our dedication to driving innovation in the homebuilding and homebuying process, ultimately enhancing value for all stakeholders involved.”
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