Corridor Capital and World Wide Land Transfer acquire First Partners Abstract Co. Inc.
Trevose, PA and Los Angeles, CA – World Wide Land Transfer Holdings, LLC (“WWLT”), a Corridor Capital portfolio company, has acquired First Partners Abstract Co. Inc. (“First Partners Abstract” or “FPA”), in partnership with FPA founder, Stephen Wooldridge. FPA’s staff of 70 title industry professionals across Bucks and Montgomery counties, Pennsylvania, and Ocean City, New Jersey, further strengthens WWLT as a regional leader in title and settlement services.
First Partners Abstract was founded in 1995 and is based in Langhorne, Pennsylvania, serving the greater Philadelphia real estate community through FPA and its eight affiliate companies across 13 office locations. FPA’s executive management is excited to partner with WWLT and Corridor to support the expansion of the company’s core service offerings in the endeavor to build a leading, fully integrated title services company.
In its original underwriting of the WWLT investment, Corridor had the goal to partially consolidate the highly fragmented title and settlement services industry to further scale the WWLT platform. Corridor developed an acquisition strategy in partnership with WWLT management which has resulted in a pipeline of potential investment opportunities for further growth and consolidation.
“We are extremely excited to be able to partner with Steve and the entire FPA team, who have established a strong reputation within the industry. FPA’s clients and affiliate partners rave about their level of service and commitment to quality. We look forward to supporting the FPA team in their continued offering of excellent service to existing clients and partners and assisting in expanding the scope of their relationships to new markets and service offerings,” said Marc Shaw, CEO of WWLT.
Stephen Wooldridge, President and CEO of First Partners Abstract, said, “the people, passion, and fit of our two cultures will help raise the bar for our combined family of clients. In addition, WWLT’s tech-enabled platform and capabilities will further add to our ability to deliver a high quality, full-service offering to our current and future clients. This is an evolution from which both our clients will benefit almost immediately.”
The addition of FPA embodies WWLT’s first add-on acquisition since Corridor Capital’s investment in WWLT in March 2021. “We are thrilled to support WWLT in its partnership with First Partners Abstract. We believe welcoming FPA into the WWLT family will permit FPA to enhance its processes and increase its service levels, creating further benefits to all FPA partners,” stated Craig Enenstein, Corridor Capital’s CEO. “The FPA team is an excellent fit for the growth and service-oriented culture that WWLT, its clients and its vendor partners value so highly. We look forward to working with FPA’s management team to continue our pursuit of building the combined company into a leading, full-service, independent title and settlement services agency in the U.S., while still serving clients as a truly local partner.”
Saul Ewing Arnstein & Lehr, LLP served as legal counsel and Kroll, LLC provided financial diligence support to Corridor and WWLT.
About World Wide Land Transfer
World Wide Land Transfer is a tech-enabled, full-service, independent title and settlement services agency with offices in Pennsylvania, New York, New Jersey and Florida, and is headquartered in Philadelphia. The Company’s commitment to consistent, time-sensitive, excellent service coupled with the highest business and ethical standards set it apart and have helped WWLT evolve into one of the Northeast region’s largest title insurance agencies. WWLT has been named to the Inc. 5000 List 6 of the last 9 years. Learn more at https://www.worldwidelandtransfer.com.
About First Partners Abstract
First Partners Abstract is a full-service settlement and escrow company also providing comprehensive title insurance services for all forms of real estate transactions. First Partner Abstract’s staff of 70 title industry professionals are employed in 13 offices across Bucks and Montgomery counties, PA, and Ocean City, NJ. First Partners Abstract has three First Partners Abstract Company locations and ten more offices amongst its eight affiliate companies. Learn more at https://firstpartnersabstract.com.
About Corridor Capital
Corridor Capital, LLC is a Los Angeles-based private equity firm that provides capital, operational support, and strategic guidance to lower middle-market business services companies in North America. Corridor manages committed funds on behalf of a diverse investor base, many of whom bring a deep understanding of and valuable relationships in the industries in which we invest. Corridor seeks to leverage its dedicated, experienced team of operating professionals and extensive network of executives, advisors, and investors to actively engage with and support its management partners to create sustainable and scalable infrastructure and to grow its portfolio companies. Learn more about Corridor Capital at www.corridorcapital.com.