What business handles holding escrows in a transaction?

searcher profile

September 09, 2019

by a searcher from University of Pennsylvania - The Wharton School in Minneapolis, MN, USA

We are negotiating the final terms of our purchase agreement with a seller. Part of that has included using an escrow at close. Who provides escrow services for business transactions? Is this typically done by the bank handling the senior debt? Any advice on good or bad services to look for?

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commentor profile
Reply by an investor
from Illinois Institute of Technology in Pasadena, CA, USA
This firm provided escrow services for us on a sell-side M&A deal we completed recently.
Shelley S. Cottrell
Senior Escrow Officer
Strategic Market Services
Fidelity National Title Insurance Co.
7130 Glen Forest Drive, Suite 300 Richmond, VA###-###-####
Phone: (###-###-#### Toll-free: (###-###-#### , x2132
Fax: (###-###-####
redacted my name regarding the "Human Designs" deal

Tom KorzeneckiPrincipal Managing Director

Grand Avenue Capital Partners, LLC
Investment Bankers###-###-#### Member FINRA SIPC
Pasadena, California USA
###-###-#### direct
skype: redacted
commentor profile
Reply by a lender
from Michigan State University in Newport Beach, CA, USA
In an escrow state, you will want an escrow company to hold the funds, as well as handle the closing. Some states are attorney states, in which the attorneys handle the closing and deposits. Not all escrow companies handle business acquisitions and bulk sales, so you will need to make sure they do.
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