28
Jul 2022
Corridor Capital and World Wide Land Transfer acquire First Partners Abstract Co. Inc.
Corridor Capital and World Wide Land Transfer Acquire First Partners Abstract Co. Inc.

As seen in The Title Report

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.

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