Corridor Capital and Nationwide Property & Appraisal Services continue their strategic consolidation of the appraisal management and property services space with the acquisition of Elliott & Company Appraisers

August 8, 2019 | Transactions

Gibbsboro, NJ and Los Angeles, CA – Nationwide Property & Appraisal Services LLC (“Nationwide”), a leading national appraisal management and real estate valuation services company recently completed the acquisition of Elliott & Company Appraisers (“Elliott”). Through this partnership, Nationwide will be joined by a talented team of industry professionals based out of the Southeastern U.S., further supporting its commitment to growth, unparalleled national customer service, and investment in the next generation of valuation services and technology. This marks the third acquisition since Corridor Capital’s investment in Nationwide, during which time the company has more than doubled its revenue, expanded its suite of valuation products, and added significant resources to support its valued customers in the retail and wholesale mortgage lending, mortgage servicing and title insurance industries.

“We are thrilled to have a new partner in Elliott and we look forward to collaborating with their highly knowledgeable team in our quest to build the leading independent appraisal management and property services company in the U.S. Elliott shares our commitment to and culture of best in class service, quality, compliance and innovation. Collectively we will be even more prepared to support our customers’ growth objectives and evolving valuation needs. By combining our significant experience serving stakeholders across the mortgage and property services ecosystem with modern, flexible technology solutions and one of the industry’s broadest networks of high-quality property service providers, we are able to offer our clients an increasingly comprehensive suite of valuation and appraisal management services,” said Andrew Lazev, CEO of Nationwide.

Founded in 1980, and based in Greensboro, NC, Elliott has been a thought leader in providing valuation services for complex commercial properties and title insurance claims for nearly four decades.  In addition, the company has built a rapidly growing and service focused business managing the appraisal process for credit unions, banks and other residential mortgage lenders throughout North Carolina and the broader Southeastern U.S. Elliott’s unmatched experience with and development of customized software applications and processes to facilitate the delivery of complex commercial and title claim related appraisals and surveys will provide Nationwide’s expansive network of appraisal, property and mortgage services and lender partners with a valuable set of new products and further entrenches Nationwide’s position as a leader in the Southeastern U.S.

“I am proud of the great relationships we’ve built with all our stakeholders at Elliott,” offered Elliott founder, Charlie Elliott. “Following a period of significant growth and an assessment of the rapidly changing appraisal management and valuation services landscape, it was apparent that we could best serve our team members, customers and vendor partners through a merger that paired our deep domain knowledge and built to suit technology with the expansive financial, technological and human resources, truly national customer and appraiser networks, and robust infrastructure of a leading national platform like Nationwide. I am confident that this partnership will yield amazing results.” Mr. Elliott will remain with Nationwide as a consultant, while Elliott’s Vice President and General Manager, Carlyle Holt will continue in his executive leadership role, managing the Elliott business unit and supporting Nationwide in the delivery of new valuation products and services.

“We are extremely pleased to have Elliott join the Nationwide family. As was the case with Nationwide’s recent acquisitions of Guideline and OrderPro, Elliott brings to Nationwide a deep understanding of and leadership in its market niche and offers all its stakeholders exceptional quality, customer service and a commitment to investing in the future of valuation services,” stated Craig Enenstein, Corridor CEO. “We look forward to working with Elliott’s management team and supporting Nationwide in its next phase of growth.”