Stewart Title has announced the acquisition of NorthStar Title Services LLC in Cleveland. The financial terms of the transaction were not disclosed, and the NorthStar team will become employees of the Houston-headquartered Stewart Title.
Founded in 2001, NorthStar Title Services is a full-service real estate title and escrow company serving the Cleveland metro market. Richard Areddy, who founded the company after serving as president of Guardian Title & Guaranty Agency Inc., welcomed the acquisition as a new chapter for both his firm and his clients.
“Today NorthStar takes the next step in ensuring we can continue providing industry-leading service to our customers in Cleveland and opening the door to new opportunities,” said Areddy. “Stewart Title has been a valued partner throughout our history, and I’m excited for NorthStar to be a part of their continued growth and success in Ohio. The combination of our local expertise and their financial strength and resources will allow us to better support our customers and grow our business in Ohio.”
The acquisition of NorthStar Title Services is the fifth for Stewart over the past seven months. Its most recent acquisitions include United States Appraisals in June, 57 title offices in the states of Arizona, Colorado and Nevada from ET Investments in September, Alaska’s Yukon Title Co. Inc. in September, Pro-Teck Services Ltd. in October, and NotaryCam in December.
“NorthStar has been a Stewart Trusted Partner for nearly 20 years, and in that time, we’ve worked closely with Rick and his team, and we’re excited to add their industry experience and talent to the Stewart family in Ohio,” said David Martin, Senior Division President, Stewart Title. “With the addition of the NorthStar team in Cleveland, Stewart is now a leader in the top-three markets in the state of Ohio, ensuring we can deliver superior title and escrow services and solutions across the state.”
“Today NorthStar takes the next step in ensuring we can continue providing industry-leading service to our customers in Cleveland and opening the door to new opportunities,” said Richard Areddy, President, NorthStar Title Services. “Stewart Title has been a valued partner throughout our history, and I’m excited for NorthStar to be a part of their continued growth and success in Ohio. The combination of our local expertise and their financial strength and resources will allow us to better support our customers and grow our business in Ohio.”
Stewart’s announcement is the second major industry consolidation for 2021, following Guaranteed Rate’s acquisition of Stearns Holdings [1].