Benzinga | Dec 16, 2021 02:37PM EST

Stewart Acquires Devon Title Agency; Terms Not Disclosed

tewart Information Services Corporation (NYSE-STC) today announced the acquisition of Devon Title Agency ("Devon"). Devon is one of the largest title agencies in Michigan, with more than 30 years of providing superior title services to customers across the state. The transaction highlights Stewart's continued emphasis on investing in key markets across the country on its path to becoming the Premier Title Services Company.

"The addition of Devon to the Stewart family of companies establishes us as one of the market leaders in Michigan," said Stewart Group President Steve Lessack. "Devon is a well-respected brand with a great team of associates who deliver outstanding service to residential, commercial and lender customers. The complementary strengths and capabilities they bring will only further strengthen both companies and create additional opportunities for each as we look to their management team to continue building the Devon brand."

"We are very excited about joining the Stewart family of companies and with the opportunities to work with their industry leading team of title professionals," said Dan Lievois, CEO, Devon Title Agency. "Having the backing of a company like Stewart also provides financial strength and leading-edge technology that will further enhance our growth objectives throughout the Michigan marketplace. Stewart's culture, which highlights the importance of teamwork, coupled with their technology, was a key point for us and made joining Stewart a natural fit. I am confident that this new and exciting relationship will bring considerable value to both our customers and our team members."