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09/2024100%

Doma acquired by Title Resources Group (TRG)

UNITED STATES Insurance EV $100–350M

Context

The acquisition of Doma Holdings by Title Resources Group (TRG) represents a landmark consolidation in the U.S. title insurance market. A unique strategic component of the deal involves the separation of Doma’s assets: Doma’s underwriting division (DTI) becomes a wholly owned subsidiary of TRG, while its technology division (Doma TechCo) will operate as a separately capitalized sister company. Centerbridge Partners remains the largest shareholder of TRG and becomes the majority owner of Doma TechCo. Additionally, Lennar’s strategic arm, LENX, made a concurrent investment to become a minority owner of TRG, reinforcing the group's ties to the homebuilding community. The strategic rationale for the deal centers on achieving massive scale in underwriting while isolating and further developing Doma’s disruptive AI-driven technology. By combining TRG’s financial stability with Doma’s innovative data stack, the group aims to set a new industry standard for high-speed, data-driven title closings.

Doma, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average observed in the Financial Services sector (15.8x in 2024).

-> Deep-dive in Financial Services market trends

Target

Doma Holdings, Inc. is a leading real estate technology company that utilizes machine learning and advanced data analytics to modernize the residential real estate closing process. The firm specializes in providing instant title insurance underwriting and digital closing services, significantly reducing the time and cost associated with traditional property transfers. Its core technology platform, developed through its technology division, automates complex manual tasks such as title search and risk assessment, enabling a frictionless experience for mortgage lenders, real estate agents, and homebuyers. The company's underwriting arm, Doma Title Insurance, Inc. (DTI), is licensed to operate across a vast majority of the United States, providing the high-assurance financial backing required for large-scale real estate transactions. Doma’s business model is characterized by a "tech-first" approach to the title industry, positioning it as a primary disruptor of legacy insurance practices.

Ent. Value

$100–350M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
$250–500M
$10–30M
[members only]
2024
$250–500M
$10–30M
[members only]

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REFERENCES

Valuation range: EV $100–350M

Revenue range: $250–500M

EBITDA range: $10–30M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Doma by Title Resources Group (TRG) are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: doma

Acquirer: title resources group (trg)

FAQ

What transaction does this page cover?

This page covers Title Resources Group’s acquisition of 100% of Doma, an American company specialised in Insurance, in 2024.

How was the acquisition of Doma by Title Resources Group valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $100–350M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Doma’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Doma generated annual revenue estimated in the $250–500M range and EBITDA in the $10–30M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of Doma compare to benchmarks in the Financial Services sector?

The estimated multiple of 5x - 12x sits below the sector median of 15.8x recorded in 2024, indicating an attractive entry multiple for Title Resources Group or reflecting specific complexities. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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