Nationwide Property and Appraisal Services LLC (NPAS), led by Sri Velamati and one of the largest appraisal management companies in the U.S., announced that it has acquired Integrity Appraisal Management (Integrity), a regional AMC based in Houston, TX.
The acquisition of Integrity will help NPAS strengthen its ability to expand market reach and enhance product and service offerings, the company said in a statement.
“Integrity Appraisal Management’s unparalleled platform in Texas and surrounding southern states is due to their talented team. We are excited to grow the combined organization and offer our combined customer base a national platform with a regional experience,” Velamati, Nationwide Property and Appraisal Services’ CEO, said in a statement. “This acquisition perfectly aligns with our long-term vision and strategy to grow with our customers and innovate in the industry. By combining our strengths, we are confident in our ability to create a stronger, more competitive organization and drive further success.”
Shawn Thompson, the president of Integrity, added, “We were approached by several AMCs who wanted to partner with us, only to add numbers to their bottom line. We knew they were different from the first time we met with the executive team at NPAS. They have experience and a reputation of partnering with AMCs who share their values.”
As part of the acquisition, Integrity Appraisal Management’s employees will become members of the Nationwide Property and Appraisal Services team.
Nationwide Property and Appraisal Services was acquired by Arcapita Group Holdings, a Bahraini investment firm in January 2022. Before that, NPAS was under the umbrella of Corridor Capital, a lower middle market private equity firm, since 2016.