HomeServices of America, Inc., a Berkshire Hathaway affiliate, announced yesterday the acquisition of Prudential Fox & Roach, Realtors®, The Trident Group, which is comprised of financial services companies including Trident Mortgage Company, Trident Insurance and Trident Land Transfer Company. Terms were not disclosed.
Headquartered in Philadelphia, Prudential Fox & Roach is among the largest real estate firms in the tri-state region of Pennsylvania, New Jersey and Delaware, with more than 4,000 sales associates in 62 offices located in major markets across the three states. Through the Trident Group, the company provides one-stop shopping to its clients including mortgage financing, title insurance and escrow services, and property and casualty insurance. In 2012, Prudential Fox & Roach had more than $8.3 billion in sales volume and nearly 25,000 transactions; Trident Group originated $2.4 billion representing more than 9,800 home mortgages, closed nearly 6,000 title and escrow transactions, and had more than 7,200 property and casualty insurance transactions for a total of 48,000 transactions across all services.
Prudential Fox & Roach retains its name until it transitions to the new Berkshire Hathaway HomeServices franchise brand in late Fall 2013.
The acquisition represents HomeServices of America’s expansion in the Mid-Atlantic and entry into the tri-state region. With this transaction, HomeServices of America has 30 brands and more than 21,000 real estate professionals operating in 24 states.
Larry Flick, chairman and CEO of Prudential Fox & Roach, Realtors/Trident Group, will continue in his current role running the day-to-day operations along with Gerry Griesser, President Trident Group; Joan Docktor, President, Prudential Fox & Roach, and their leadership teams.