“We want people to know that Florida Title Insurance Agency didn’t just disappear, and that Alpha-Omega Title is serving the former clients of Florida Title,” said Byron “Gibbs” Wilson Jr., founder and president of Alpha-Omega Title, in a release.
Terms of the deal were not released, but Florida Title would be dissolved by the end of the year, Wilson said.
Until its buyout Thursday, Alpha-Omega owned 25 percent of Florida Title and served as its managing partner through an affiliated business arrangement. Florida Title was launched in 2002, and was formed through investments by Realtors, mortgage brokers, developers and other real estate professionals.
Investors had been earning dividends from Florida Title through the third quarter of 2008, with revenue doubling every year between 2002 and 2007, Wilson said. But the h…