Security Service Federal Credit Union Acquires Utah First Title Insurance Agency
DENVER, March 20, 2023 /PRNewswire/ — Turk & Company announced today its client Security Service Federal Credit Union closed on the acquisition of Utah First Title Insurance Agency.
As a title-centric Mergers and Acquisitions firm, Turk and Company served as the exclusive investment banker representing Security Service in the transaction.
“This is another milestone achievement for our team and highlights our growing practice as financial advisors to institutions who seek title expertise as part of Investment Banking,” said Howard Turk, Founder and Managing Director of Turk and Company.
Founded in 1956, Security Service is one of the largest credit unions in the nation with 67 locations in Texas, Colorado, and Utah. In addition to providing a wealth of financial products and services, including insurance and investments, the Credit Union owns the full-service subsidiary Security Service Title Company.
“When looking to expand our Title Services, it only made sense to do so in the areas we currently serve,” said Charles Goss, Executive Vice President and Chief Lending Officer for Security Service Federal Credit Union. “The acquisition of Utah First Title Insurance Agency will allow us to provide title insurance and settlement services for both homeowners and businesses in the Utah market.”
An independently owned and operated title agency located just south of Salt Lake City, Utah First Title Insurance Agency wanted to find the right fit for its employees and customers.
“Security Service not only shares our same core values, but their leadership is also making sure our employees and their families are taken care of during the transition and that is important to us,” said Mark Schroeppel from Utah First.
As one of the top 5 full-service title agencies in Utah County the company will maintain operations under the Utah First Title Insurance Agency name.
Turk & Company is a real estate industry M&A firm with global reach that specializes in evaluating, buying and selling title agencies, underwriters and ancillary businesses. The team is comprised of seasoned Investment Bankers as well as experienced Title Professionals who have built and sold agencies themselves. Turk & Company is involved in more title agency transactions than any other independent Investment Bank in the country.
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SOURCE Turk & Company
Originally published at https://www.prnewswire.com/news-releases/turk–company-assists-with-acquisition-of-utah-title-company-301776540.html