Fathom Holdings divests Dagley Insurance for $15m to founder Nathan Dagley
Fathom Holdings Inc., a leading national real estate services platform, has announced the sale of Dagley Insurance to its founder, Nathan Dagley, for a total of $15 million. The deal includes an initial payment of $8 million at closing, with the remainder $7 million to be paid over the next two years. This strategic divestiture is designed to strengthen Fathom’s financial base and fuel its ongoing growth initiatives.
Strategic Enhancements and Continued Partnerships
Marco Fregenal, CEO of Fathom Holdings, elaborated on the transaction, stating, “This strategic decision strengthens our balance sheet while advancing our agent growth strategy.” He emphasized that the sale provides essential capital to navigate future challenges and generate increased shareholder value through targeted growth and investment in core operations.
Fregenal also highlighted the continuing partnership with Dagley Insurance, ensuring that Fathom Realty agents across 47 states will maintain their existing relationships and service levels with Dagley Insurance, thereby ensuring consistency in service delivery to real estate clients.
Appreciation and Future Collaboration
Nathan Dagley expressed his gratitude towards the Fathom leadership, including founder Josh Harley and COO Samantha Giuggio, for their support over his tenure which helped grow Dagley Insurance. “My tenure at Fathom has not only fostered numerous valuable relationships but has also significantly contributed to the growth of Dagley Insurance,” Dagley remarked. He confirmed that Dagley Insurance would continue serving the real estate agents at Fathom, as well as loan officers and staff at Fathom subsidiaries Encompass Lending and Verus Title.
Impact on Fathom’s Operations and Market Position
This transaction is a part of Fathom’s broader strategy to optimize its asset base and focus on its core business areas. By divesting non-core assets, Fathom aims to improve its financial resilience and capacity for strategic investments, positioning itself for future success in a competitive market.
The ongoing collaboration between Fathom and Dagley Insurance after the sale signifies a strategic alignment that benefits both entities and their clients, ensuring that high-quality insurance services remain integral to Fathom’s comprehensive real estate service offerings.