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Closing USA acquires key stake in West Coast firm

By THOMAS ADAMS - 5/18/2012 2:21:27 PM

Closing USA LLC, a Gates title and escrow firm, has acquired a controlling interest in a California company, officials announced Friday.

The acquisition of Glendale-based American Coast Title Inc. gives the local company access to the California market, which accounts for nearly 25 percent of all real estate transactions, Closing USA president and CEO Elliot Foo said in a statement.

American Coast Title’s expertise in the southern California market and Closing USA’s national customer base provide excellent synergies, Foo said.

ACT also has an office in San Diego and plans to open an office in Orange County, officials said.

Closing USA employed 66 at the Rochester Technology Park when it was approved for tax breaks in February by the County of Monroe Industrial Development Agency to expand its offices and add 100 jobs over five years.

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