RICHMOND, VA -- LandAmerica Financial Group, Inc. (NYSE:LFG), a leading provider of real estate transaction services, announces through its LandAmerica Valuation Corporation (LVC) subsidiary the acquisition of Butler Burgher, Inc., a commercial real estate valuation company based in Dallas, Texas.
Founded in 1993, Butler Burgher provides commercial real estate valuation services throughout the United States. The company, which has more than 40 employees operating in offices in Dallas and Austin, has significant expertise in affordable housing and Low Income Housing Tax Credit properties.
The Butler Burgher purchase is the latest move in LVC's targeted growth strategy. With this acquisition, LVC gains greater geographic coverage, significant customer relationships in new market niches, and a strong management team joining forces with LVC's current leadership, which is well- respected inside the industry.
"This is a win-win for both companies and our customers," said Diane Butler, a principal and founder of Butler Burgher. "The resources of LandAmerica will allow us to accelerate growth and provide valuation services to more customers in the commercial real estate industry." Butler will serve as Senior Vice President - General Manager of LVC.
"We are excited about Butler Burgher joining the LandAmerica family," added Chuck Victor, Senior Vice President - Commercial Services. "With their commitment to giving customers superior service, this acquisition is an important step in making LandAmerica the premier provider of real estate transaction services."
About LandAmerica Financial Group, Inc.
LandAmerica Financial Group, Inc. is a leading provider of real estate transaction services. Through its many subsidiaries, LandAmerica serves residential and commercial customers with more than 1,000 offices and a network of 10,000 active agents throughout the United States, Mexico, Canada, the Caribbean, Latin America, and Europe. LandAmerica is recognized on Fortune magazine's 2006 list of America's most admired companies and is ranked as a Fortune 500 and Forbes Platinum 400 company.
First Call Analyst:
FCMN Contact: sarredondo@landam.com
Source: LandAmerica Financial Group, Inc.
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| Notes:
CONTACT: Bob Sullivan, SVP - Investor Relations, +1-804-267-8703,
bsullivan@landam.com, or Lloyd Osgood, SVP - Communications Resources,
+1-804-267-8133, losgood@landam.com, both of LandAmerica Financial Group,
Inc.
Web site: http://www.landam.com/
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