Title firm Mother Lode Holding Co., a subsidiary of big four firm First American Financial, announced Monday that it has acquired Wisconsin Title Service Co. Inc.
The terms of the deal were not disclosed. According to Mother Lode Holding Co., the acquisition includes Wisconsin Title Service Co.’s sister company, Wisconsin Title Closing Service Inc., as well as its title plants in Milwaukee, Waukesha, Walworth and Washington counties.
“We are pleased to welcome Wisconsin Title Service Company into the Mother Lode family,” Lisa Steele, chief operating officer of Mother Lode Holding Co., said in a statement. “Their commitment to customer service and innovation mirrors our own, providing a unique opportunity to expand our coverage in key markets, while bringing added capabilities to Wisconsin Title Service Company’s clients.”
Founded more than 75 years ago, Wisconsin Title Service Co. is a fixture of the Wisconsin real estate industry.
President Carrie Hoyer and vice president Mark Ciborowski will continue to lead Wisconsin Title Service, which will now operate as a wholly owned subsidiary of Mother Lode Holding Co.
“Joining Mother Lode Holding Company will provide new opportunities for our staff as we continue to provide our customers with the same outstanding service they expect from us, with the added value and capabilities of an industry leader,” Hoyer said in a statement.
Through this acquisition, Mother Lode Holding Co. now has 18 subsidiaries, including its primary subsidiary, Placer Title Co. First American acquired Mother Lode Holding Co. and its subsidiaries in January 2022.
In first-quarter 2024, First American recorded $1.4 billion in revenue, down 1% year over year, and a net income of $46.7 million, up from $45.9 million in Q1 2023. The firm’s title segment did not perform as well, however, reporting revenue of $1.319 billion, down from $1.349 billion recorded a year ago, along with a pretax income of $72.7 million, down from $88.2 million in Q1 2023.