ET Investments (ET) has purchased an ownership stake in Thomas Title & Escrow, the companies announced. Terms of the deal were not disclosed.
Based in Colorado, ET Investments has about 20 title agency subsidiaries in five states, and more than 750 affiliated employees. Founded in 2006, Thomas Title & Escrow has locations in Arizona and Texas and touts itself as one of the largest commercial title and escrow providers in the U.S. and Mexico.
“The strategic partnership with ET will permit us to focus on expanding our strong commercial services platform into a true national player. We will also be able to leverage the deep expertise of ET for our growing residential business,” Thomas Title President and CEO Frank W. Busch III said in a release.
“This transaction will be transformative for both our clients and employees. Thomas Title’s clients will benefit from the expanded support network. Our employees will have greater opportunities within a much larger organization which also includes the offering of improved employee benefits,” Busch added.
ET will provide Thomas back-office support for finance, accounting, IT, HR and compliance/legal. Busch retained an ownership stake in the business and will manage the firm.
“ET Investments has been dedicated to the title industry by bringing in high-performing and valuable agencies into our mix. Thomas Title and its team have proven themselves in the Arizona and Texas markets and this strategic partnership will allow for increased growth in additional markets,” ET Investments Chief Executive Officer John Dwyer, Jr. said.