Nationwide Property & Appraisal Services, one of the largest appraisal management companies in the nation, announced Friday the acquisition of Integrity Appraisal Management, a regional outfit in the South.
In recent months, merger and acquisition activity
The company will be integrated into NPAS as a branch and Shawn Thompson, the current president of Integrity will oversee the division, per a press release. Further details, such as the price tag of the deal, were not disclosed.
NPAS, which is owned by investment
According to NPAS, the strategic vision behind the acquisition of Integrity was to "expand market reach, provide innovative solutions and enhance product/ service offerings, all centered around …. customer experience."
"Integrity Appraisal Management's unparalleled platform in Texas and surrounding southern states is due to their talented team," said Sri Velamati, CEO of Nationwide Property & Appraisal Services in a written statement. "We are excited to grow the combined organization and offer our combined customer base a national platform with a regional experience.
Thompson noted that other AMCs approached him about potential partnerships but that he turned them away.
"We knew they were different from the first time we met with the executive team at NPAS," he said in a written statement. "They have experience and a reputation of partnering with AMCs who share their values."
NPAS was itself acquired in 2022 by Arcapita for an undisclosed amount.
At the time, an executive from the investment firm said that the company "is focused on acquiring asset-light business services and logistics companies." NPAS, they said, has a "highly cash generative business, experienced management team, and strong base of clients across the country" which were factors that led to the company's purchase.
