HousingWireHousingWire
Title Resources Group (TRG) has closed its acquisition of Doma Holdings, the parent company of Doma Title, according to an announcement on Friday. The sale was first announced in late March 2024.
In the all-cash transaction, Doma was valued at nearly $88 million. As a result of the sale, Doma’s underwriting division (DTI) is now a wholly owned subsidiary of TRG.
“Combining DTI with TRG’s existing underwriter, we have become the fifth largest independent underwriter in the United States. We look forward to leveraging our increased scale to create more value for our agents and partners in the marketplace,” Scott McCall, the CEO of TRG, said in a statement.
The technology division of Doma, which was renamed to Doma Technology LLC (Doma TechCO), will operate as a separately capitalized entity.
TRG and Doma TechCo will operate as sister companies, according to the announcement. Centerbridge Partners is the largest shareholder in TRG and the majority owner of Doma TechCo, through a subsidiary.
In addition, TRG also announced that LENX, the strategic investment arm of homebuilder Lennar, has become a minority investor in the firm.
“Our partnership with Lennar speaks volumes to who we are as a company and the value we deliver,” McCall said. We have always been interested in expanding our relationships within the homebuilding community and Lennar becoming a part owner of TRG is an exciting milestone in fulfilling that goal.”
Lennar is joining Anywhere Real Estate Inc., HomeServices of America, Opendoor Technologies Inc., and Centerbridge Partners as owners of TRG.
“We are pleased about our partnership with TRG,” Eric Feder, the president of LENX, said in a statement. “This strategic investment highlights our dedication to fostering innovation across the homebuilding and homebuying process and enhancing value for all stakeholders involved.”
