An acquisition by a prominent appraisal management company promises to create the third largest AMC in the country.
With more than 18,000 appraisers and 30,000 users, Solidifi US Inc. already claimed to be the fourth-largest non-bank appraisal manager in the country. The AMC says that it is “the appraisal service provider of choice for 13 of the top 50 lenders.”.
Buffalo, N.Y.-based Solidifi was founded in 2004 and operates both in Canada and the United States. It reportedly ranked No. 21 in Deloitte’s Technology Fast 500.
On Monday, Solidifi disclosed a deal to acquire Kirchmeyer & Associates, a 19-year-old AMC.
The acquisition will reportedly make Solidifi the third-largest independent U.S. provider of residential real estate appraisals.
The merged businesses will operate from Buffalo under the Solidifi brand.
The deal follows a $22 million financing transaction last year for Solidifi.
