First American Financial Corporation Expands Presence in Michigan Through Acquisition
The First American Financial Corporation has solidified its position as a leading provider of real estate-related information products and services through the acquisition of Potter Title Company in Michigan. This strategic move allows First American to effectively compete in the service-sensitive market and doubles its market share in the Lapeer County region. As a result, the company has appointed Joseph Ghilardi as manager of the newly merged operation.
Key Takeaways:
- The First American Financial Corporation has acquired Potter Title Company in Michigan, expanding its presence in the region.
- The acquisition has doubled First American's market share in the Lapeer County region.
- Joseph Ghilardi has been appointed as manager of the newly merged operation.
- Potter Title Company, which was initially founded as an exclusive agent of First American, has been merged with First American's existing Lapeer County branch operation.
- The acquisition is part of First American's strategy to effectively compete in the service-sensitive market.
- First American's subsidiaries include First American Title Insurance Company, First American Real Estate Information Services, Inc., First American Home Buyers Protection Corporation, First American Capital Management, First American Trust Company, and First Security Thrift Company.
- The company has nearly 20,000 employees in more than 400 branch offices in the United States and abroad.
Statistics:
- Market share in Lapeer County region: Doubled (no specific percentage mentioned)
- Number of employees: Approximately 20,000
- Number of branch offices: Over 400
- Number of subsidiaries: 7
- Employees in the Michigan office: Not specified
Sources:
- "First American Title Insurance Company Purchases Potter Title Company in Michigan." PR Newswire, March 26, 1999.