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M&A Deal Summary

LandAmerica Financial Group Acquires LERETA

On October 1, 2003, LandAmerica Financial Group acquired business services company LERETA for 225M USD

Acquisition Highlights
  • This is LandAmerica Financial Group’s 1st transaction in the Business Services sector.
  • This is LandAmerica Financial Group’s largest (disclosed) transaction.
  • This is LandAmerica Financial Group’s 1st transaction in the United States.
  • This is LandAmerica Financial Group’s 1st transaction in California.
Investment Fate
  • LERETA was divested to a consortium of buyers in 2009.
  • LERETA was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2003-10-01
Target LERETA
Sector Business Services
Buyer(s) LandAmerica Financial Group
Deal Type Add-on Acquisition
Deal Value 225M USD
Advisor(s) Kerlin Capital Group (Financial)

Target

LERETA

Covina, California, United States
LERETA is a national tax service and flood hazard certification company focused on providing a full suite of national real estate tax services for residential and commercial loans, including automated online research and certification, tax bill processing, a suite of delinquent tax services, and customized tax outsourcing service programs. LERETA was formed in 1986 and is based in Covina, California.

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Buyer(S) 1

Buyer

LandAmerica Financial Group

Glen Allen, Virginia, United States
Category Company
Founded 1991
Sector Insurance
DESCRIPTION

LandAmerica Financial Group, Inc. provider of real estate transaction services with more than 800 offices and a network of more than 10,000 active agents.

DEAL STATS #
Overall 1 of 2
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 2
State: California M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2003 M&A 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Best Home Warranty Co.

Las Vegas, Nevada, United States

Buyers Home Warranty Company/ Best Home Warranty Company (BHWC), a leading provider and servicer of home warranty contracts.

Buy $21M
Mergr

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