First Weber acquired by Berkshire Hathaway affiliate

By Katherine Michalets - Freeman Staff

July 28, 2015

MINNEAPOLIS — HomeServices of America, Inc., a Berkshire Hathaway affiliate, announced Tuesday it purchased First Weber Realtors, a residential real estate brokerage firm headquartered in Madison.

Also part of the deal, HomeServices of America acquired First Weber’s subsidiary Priority Title Corporation together with ownership interests in eight regional title operations in Wisconsin. Terms of the acquisition were not disclosed.

First Weber serves all Wisconsin markets with nearly 1,200 sales associates in 58 offices throughout Madison, Milwaukee, central Wisconsin, the Fox Valley and the Northwoods.

Last year, First Weber closed $2.5 billion in sales and ranked in the top 20 U.S. brokers based on closed units, according to the announcement.

First Weber executive management team members James Imhoff, president and CEO, Kevin Donnell, Tamara Maddente and Robert Weber will continue to lead the company’s strategic planning and growth initiatives as well as manage the day-to-day operations along with their sales management teams, according to the announcement.

“We are proud to be part of HomeServices of America,” Imhoff said in a statement. “We are joining an organization known for its strength and stability—one that is consistent with our high standards of service, integrity and community involvement, making this a win–win for our customers and brokers.”

HomeServices is the nation’s second-largest, full-service residential real estate brokerage firm and, through its operating companies, is one of the largest brokerage-owned settlement service providers in the U.S. In 2014, HomeServices’ associates closed $67 billion in sales, nearly 200,000 real estate transactions, and approximately $3.5 billion in home mortgage loans.

“First Weber is a strong company with excellent brand recognition and long-term ties to the communities it serves,” said Ron Peltier, chairman and CEO of HomeServices, in a statement. “This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values.”

www.homeservices.com

www.firstweber.com