AmeriTitle Bought by Boise-Based Futura

Acquisition of Bend-headquartered company creates large northwest footprint. Two major independent regional title and escrow companies have joined forces to create a newly combined presence after Futura Title & Escrow – the parent company of Boise, Idaho-based Alliance Title & Escrow Corporation – recently closed on the purchase of AmeriTitle, Inc., whose corporate offices are in Bend.

Together, the companies will create the largest independent title and escrow group in the Pacific Northwest, with more than 600 title and escrow professionals and some 70 offices operating in 66 counties across five states – Oregon, Washington, Idaho, Montana and Wyoming. The companies are expected to maintain their separate brand identities.

“This is an ideal combination of two great regional companies,” said Futura Title & Escrow Chief Executive Officer Larry Matney. “Our operations are very compatible and our customers and employees will benefit greatly from the geographical coverage, scale and service capabilities of the new organization.”

The sale of the AmeriTitle division is part of a strategy by previous owner, Klamath Falls-based Jeld-Wen – which is one of the largest private companies in the US and the biggest in Oregon – to focus on its core door and window manufacturing business. The company had owned AmeriTitle for 28 years.

AmeriTitle has been headquartered in Bend for several years, but when a majority stake in Jeld-Wen was acquired by Canadian conglomerate Onex in 2011, the decision was made for the group to streamline operations.

Previously, the company also put its portfolio of Northwest resorts on the market and sold Brasada Ranch in Powell Butte, Eagle Crest Resort near Redmond and the Running Y Ranch in Klamath Falls to Northview Hotel Group and Oaktree Capital Management.

Also, earlier this year and prior to the Futura deal, Jeld-Wen sold 22 AmeriTitle office buildings in Oregon, Idaho and Washington in a $25 million sale-leaseback to NLD Title LLC, a Midwest private investment company, which purchased the portfolio of single-tenant offices with AmeriTitle continuing to occupy the buildings under long-term leases.

The Silver Group, based in San Francisco, advised NLD Title in the deal and currently

Barry Silver, principal with The Silver Group, is brokering the re-selling of selected individual properties, including the AmeriTitle offices at 345 SE Third Street in Bend.

Following the acquisition by Futura, AmeriTitle Founder and President Linda Stelle will remain in her current position. AmeriTitle will also retain its current employees

Stelle said: “As we considered the sale of our company, it was important to align with a parent company that was as deeply committed to the Pacific Northwest as we are.

“As always, service with commitment to our local communities and customers will be among our highest priorities at AmeriTitle.”

AmeriTitle and Alliance offer title, escrow, 1031 exchange facilitations and long-term escrow processing throughout the Pacific Northwest.

About AmeriTitle

Headquartered in Bend, AmeriTitle is one of the largest title and escrow companies in the Pacific Northwest. With nearly 300 employees, AmeriTitle has 42 offices in Oregon, Idaho and Washington and works with a variety of clients, ranging from first-time homebuyers to complex commercial projects. With an emphasis on local customer service, the company has continued to expand its national footprint. For more information about AmeriTitle, visit http://www.ameri-title.com/

About Alliance Title & Escrow

Deeply rooted in the Pacific Northwest, dating back to the late 1800’s, Alliance Title & Escrow Corp. became part of the Futura Corporation family of companies in the spring of 1995. Alliance is one of the Pacific Northwest‘s largest title insurance agencies. Headquartered in Boise, Idaho, the company has 33 branch operations throughout Idaho, Montana, Washington and Wyoming. For more information visit http://www.alliancetitle.com/