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M&A Deal Summary

Tarsadia Investments Acquires LERETA

On September 23, 2009, family office Tarsadia Investments acquired business services company LERETA from LandAmerica Financial Group

Acquisition Highlights
  • This is Tarsadia Investments’ 1st transaction in the Business Services sector.
  • This is Tarsadia Investments’ 3rd transaction in the United States.
  • This is Tarsadia Investments’ 1st transaction in California.
Investment Fate
  • LERETA was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2009-09-23
Target LERETA
Sector Business Services
Buyer(s) Tarsadia Investments
Sellers(s) LandAmerica Financial Group
Deal Type Divestiture

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

Tarsadia Investments

Investor Investor Investor Investor Investor

Category Family Office
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tarsadia Investments is a Southern California based family office. The Firm is a flexible investor and looks to commit $5 to $75 million across multiple stages of maturity and asset classes. Sectors of interest include healthcare, life science, financial services, financial technology, real estate, and technology. In addition to direct investments, the Firm also invests in third party managed funds. Tarsadia Investments is based in Newport Beach, California.

DEAL STATS #
Overall 3 of 13
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 5
Country: United States M&A 3 of 12
Year: 2009 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Prolong Pharmaceuticals

South Plainfield, New Jersey, United States

Prolong Pharmaceuticals specializes in engineering of novel biologics to treat anemias, cancers and their debilitating comorbidities by leveraging the multi-faceted core attributes of PEGylation technology. Comorbidities are a common consequence of sickle cell disease, chemotherapy, atherosclerosis, diabetes, and many other diseases. Prolong Pharmaceuticals was founded in 2005 and is based in South Plainfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Kashiv BioSciences

Piscataway, New Jersey, United States

Kashiv BioSciences is a fully integrated specialty biopharmaceutical company offering next-generation drug delivery technologies and an advanced pipeline of oral & biosimilar drugs. Kashiv BioSciences was founded in 2010 and is based in Bridgewater, New Jersery.

Buy -

Seller(S) 1

SELLER

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 6 of 6
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 6 of 6
State: California M&A 2 of 2
Country: United States M&A 6 of 6
Year: 2009 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-14 LoanCare Servicing Center

Virginia Beach, Virginia, United States

LoanCare Servicing Center, Inc., is a provider of national loan subservicing services. LoanCare provides subservicing services on more than 100,000 loans for ninety companies in all fifty states.

Sell $16M
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