First American Financial Corp., a provider of title, settlement, and risk solutions for real estate transactions, said today it has completed its acquisition of Mother Lode Holding Co., a California-based provider of title insurance, underwriting, and escrow services for residential and commercial real estate transactions.
Terms of the deal, first announced in January, were not disclosed.
“We are pleased to welcome Mother Lode and its over 1,000 people to the First American family,” said Ken DeGiorgio, CEO of First American Financial. “The addition of Mother Lode will augment our efforts to expand our coverage in key growth markets and increase our ability to serve customers in many of the country’s strongest housing markets.”
Mother Lode Holding Co. has 17 operating subsidiaries throughout the United States, including its principal subsidiary, Placer Title Co. With 92 offices in 11 states, the company ha a 49-year track record of providing superior customer service, First American said.
Mother Lode Holding Co.’s subsidiaries operate primarily in Arizona, California, Idaho, Montana, New Mexico, Texas, Washington, and Wyoming.
Customers of Mother Lode’s operating subsidiaries will benefit from enhanced underwriting resources and the industry’s largest property and ownership dataset, as well as access to other industry-leading resources for residential transactions, First American said.
Mother Lode CEO Randy Bradley, Chief Operating Officer Lisa Steele, and President Darrick Blatnick will continue to lead the company, which will now operate as a wholly owned subsidiary of First American. The company and its operating subsidiaries will continue to operate under their existing brands, First American said.
“Joining First American will provide new opportunities for our staff as we continue to serve our customers in this dynamic real estate market,” Bradley said. “We’re also pleased to join a company that similarly values fostering an employee-centric culture.”
Houlihan Lokey acted as financial advisor to Mother Lode Holding Co. on the transaction.
With total revenue of $9.2 billion in 2021, First American Financial Corp. offers its products and services directly and through its agents throughout the United States and abroad.
