Los Angeles, CA – Corridor Capital announced today an investment in World Wide Land Transfer (“World Wide” or the “Company”) in partnership with management to support the Company’s strong growth trajectory and dedication to providing critical value-added services for its clients. This is the firm’s fourth platform investment from Corridor Capital III, L.P. and Corridor’s second foray in real estate tech-enabled business process outsourcing.
World Wide is a tech-enabled, leading, full-service, independent title and settlement services agency with offices in Pennsylvania, New York, New Jersey, and Florida and headquarters just outside 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 World Wide evolve into one of the Northeast region’s largest title insurance agencies. World Wide was founded in 2004 by CEO Marc Shaw, who will continue as CEO and remain a material owner of the business. Jeff Lender will continue as President of World Wide’s New York operations.
World Wide has grown rapidly, driven by the Company’s differentiated operating model, and that growth is expected to further accelerate upon Corridor’s investment into the business. Through World Wide’s current leadership combined with Corridor’s deep strategic, operational, and financial support, the Company is poised to execute on strategic M&A to broaden its geographic reach and expand its capabilities, invest in new and existing business relationships, and further improve its technology platform to continue to deliver best-in-class service to its distribution partners, underwriters, and clients.
“We are thrilled to partner with Marc and the entire World Wide team to continue their incredible trajectory. We believe World Wide stands out through its commitment to exemplary customer service, helping borrowers, buyers, lenders and the legal community execute on their critical real estate transactions with high quality results, and we are elated that Marc chose to partner with us for this next step of World Wide’s journey,” said Corridor CEO, Craig Enenstein.
“I am extraordinarily proud of my team at World Wide and our shared success building World Wide into a leading title insurance agency in the Northeast. Bringing on additional resources and support from Corridor is a critical step in our continued development and I am excited to welcome Corridor into the World Wide family. Through our partnership with Corridor, we are excited to continue World Wide’s upward momentum through acquisition, organic growth, and continuing to serve our clients with skill, knowledge, care, and quality,” said Marc Shaw, World Wide’s founder and CEO.
Southfield Mezzanine Capital, a private investment firm which provides flexible capital to middle-market companies in the U.S., provided debt and equity financing in support of the investment. This marks Southfield’s second such facility alongside Corridor Capital.
Blank Rome LLP served as legal advisor to the Company. Crowe provided the Company with financial consulting services. Morgan, Lewis & Bockius served as legal advisor to Corridor. Duff & Phelps provided Corridor with financial diligence support.
