Class Valuation, a Troy, Mich.-based real estate collateral valuation and appraisal management company, has acquired appraisal management company (AMC) Janus Valuation & Compliance, based in Houston.
The financial terms of the transaction were not disclosed. John Passero, who founded Janus in 2008, will join Class Valuation as a Regional Chief Operating Officer focused on the Southwest and Rocky Mountain states. Class Valuation CEO and Partner Mike Detwiler stated that the company will seek out other acquisitions to expand its geographic focus.
“On a national level, Class Valuation has always been committed to providing the highest levels of customer service,” Detwiler said. “Janus has done the same on a regional level. With the mortgage and valuation industry seeing major changes, we must align with companies that share our same core values.”