Davis Polk is advising The Orogen Group on its acquisition of a majority interest in Westcor Land Title Insurance Company. The transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the approval of the Financial Conduct Authority, the approval of certain insurance regulators and other customary conditions. Financial terms of the deal were not disclosed.
The Orogen Group is an operating company that was created by Vikram Pandit and Atairos Group, an independent private company focused on supporting growth-oriented businesses. Westcor Land Title Insurance Company is the nation’s largest privately-held title insurance company with more than $600 million in gross revenues, a vast independent agent network and an “A” financial stability rating from Demotech Inc.
The Davis Polk corporate team includes partner Louis Goldberg and associates Daisy Wu and Amira Abulafi. The executive compensation team includes partner Veronica M. Wissel and associate Tessa Patti. Partner Patrick E. Sigmon and associate Liang Zhang are providing tax advice. Partner Pedro J. Bermeo is providing capital markets advice. Partner Frank J. Azzopardi is providing intellectual property advice. The real estate team includes associate Rachel Hoberman. All members of the Davis Polk team are based in the New York office.