Stewart Information Services Corporation (NYSE-STC) has announced the acquisition of All New York Title Agency, Inc., a prominent commercial boutique title company based in White Plains, New York.
All New York, founded in 1995 by industry veterans Joseph Petrillo and John Martin, has established itself as a leader in the Affordable Housing, Supportive Housing, and Senior Housing sectors across New York State.
Fred Eppinger, CEO of Stewart, expressed the company’s dedication to growth despite the challenges of the current commercial market. “This acquisition signifies our commitment to expanding our commercial presence, particularly in sectors like Energy and Affordable Housing,” said Eppinger. All New York’s expertise and strong reputation, built through collaborations with various stakeholders across the state, make it a valuable addition to the Stewart family.
Stewart Group President Steve Lessack also commented on the acquisition, highlighting the impressive business run by Petrillo and Martin and the depth of knowledge they bring to Stewart. “Their expertise in handling sophisticated, high-liability transactions is unparalleled, especially in the complex New York City market,” Lessack stated.
The founders of All New York echoed the sentiment of a shared vision and values with Stewart, emphasizing professional service and reputation as their cornerstone. “Joining forces with Stewart, one of the largest and most experienced title underwriters, will enhance our capabilities and help expand our reach in the Affordable Housing sector and beyond,” said Petrillo and Martin.
Stewart, a global real estate services company, is known for its comprehensive services, deep expertise, and customer-centric solutions in residential and commercial title insurance, closing and settlement services, and specialized offerings for the mortgage and real estate industries. With this acquisition, Stewart reaffirms its commitment to becoming the premier title services company by fostering partnerships that drive mutual success.