Guild Mortgage Co., a private San Diego mortgage bank, said Monday it has agreed to acquire AmeriPro Home Loans, an Austin, Texas-based mortgage company.
The acquisition, expected to close July 1, will add $750 million in loan volume and 29 new Guild branches in five states.
“This is an important step in our growth plan,” said Mary Ann McGarry, Guild’s president and CEO, in a statement.
Guild has been expanding aggressively in the western U.S. in recent years, adding more than 150 branches and satellite offices and more than tripling its loan volume and its servicing volume since 2010.
This latest purchase will make Guild one of the largest private mortgage lenders in Texas, according to the company.
AmeriPro President Chad Overhauser, who formed the company in 2003, said his firm and Guild share an “entrepreneurial spirit” and dedication to customer service. AmeriPro has been a subsidiary of an Austin-based investor, Tenura Holdings Inc., since 2008.
Overhauser will become a regional vice president at Guild, leading the AmeriPro branches in California, Colorado, Florida, Oklahoma and Utah.
Founded in 1960, Guild is now a national firm with more than 230 branches and satellites in 25 states.