Covius Holdings Inc., a provider of technology-enabled solutions to the financial services industry, has completed the acquisition of Florida-based Nationwide Title Clearing LLC (NTC). Approximately 670 NTC associates and senior management have now joined Covius.
Founded in 1991, NTC is a provider of lien release and other document production services as well as research and file services for originators, servicers and the capital markets sector. Its primary products and services include lien release services and post-closing document production, collateral research and property reports, capital markets transaction and file services, and default servicing and title curative solutions.
“We’re pleased to welcome our new colleagues and NTC clients to Covius,” says Rob Clements, chairman and CEO of Covius Holdings. “This acquisition significantly scales our joint post-closing offerings and expands our workforce by more than 50%. It is an exciting step forward for Covius.”
NTC will continue to operate under its current brand as a Covius Solution at its Palm Harbor operations center.
“We are looking forward to working with Johnny and his leadership team to develop new solutions to serve the real estate, mortgage and capital markets sectors,” adds John Surface, president and COO of Covius Holdings. John Hillman, who will serve as president of NTC, a Covius Solution, agrees, adding that the leadership quality and the companies’ cultural fit show the potential of what the companies can accomplish together.
Evercore acted as Covius’ financial advisor and Willkie Farr & Gallagher as legal advisor in connection with the transaction. Carr, Riggs & Ingram acted as advisor to NTC.