HOUSTON (Nov. 22, 2004) - Celebrity Escrow Corp. of Northridge, Calif., has been acquired by Stewart Title of California Inc. Existing management and staff will remain with the office, which will retain the Celebrity Escrow name and remain as a standalone escrow company.
"Over the past few years, we had spoken with a number of other title companies about how we could work together to help us expand and grow our company," said Dan Levine, executive vice president, Celebrity Escrow. "Stewart Title is the only one that truly understands our position as a relationship-driven business.
"Stewart understands we are committed to responding to the needs of our clients and customers," said Levine. "We like their people and we are impressed with the way they run their business."
Celebrity Escrow is a full-service escrow company with a 24-year tradition of service in the San Fernando Valley and greater Los Angeles areas. A keynote of Celebrity's services includes bulk sale (sale of businesses) and capital stock transfer escrow services.
"Celebrity Escrow is very successful in a market area where we currently do not have a significant presence," said Nick Pappas, president, Stewart Title of California - Los Angeles Division. "The residential resale market is very active all across Los Angeles County, and we know this acquisition will expand our reach in this area."
Celebrity Escrow is located at 9253 Reseda Blvd., Northridge, Calif. 91324, telephone (818) 701-5858.
Stewart Title of California is a wholly owned subsidiary of Stewart Information Services Corp., (NYSE-STC), a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services through more than 7,800 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records, property and land ownership mapping, and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.