National appraisal management company (AMC) Class Valuation has acquired Illinois-based valuation firm Allstate Appraisal, the companies announced on Tuesday.
As part of Class Valuation, Allstate will continue operating with its existing team while gaining access to Class Valuation’s technology platform, national infrastructure and broader suite of valuation services.
The acquisition expands Class Valuation’s capabilities across residential and commercial valuations, appraisal reviews, litigation support and other specialized valuation services. Financial terms of the deal were not disclosed.
“Allstate Appraisal’s success has always been built on the strength of our people, our commitment to quality and the relationships we have developed with our clients over decades,” Steven S. Albert, MAI, SRA, president of Allstate Appraisal, said in a statement. “This partnership allows us to continue serving the clients who have trusted us for years while adding the resources, technology and capabilities of Class Valuation.”
Albert said the company will remain focused on providing valuation services that meet clients’ expectations for quality and compliance.
“Allstate Appraisal has a nationally recognized reputation based on quality, expertise and long-term client relationships,” John Fraas, CEO of Class Valuation, said in a statement. “Its experienced team, diversified valuation capabilities and commitment to excellence align closely with our vision for the future of valuation.”
The deal is part of Class Valuation’s broader strategy of bringing established valuation firms into its organization, the company said. The company acquired Appraisal Nation last year, a move to grow Class Valuation’s presence in the private lending market.