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US Group Acquires PCS Holdings

Amanda Cheesley Deputy Editor 13 April 2023

US Group Acquires PCS Holdings

The latest mergers and acquisitions at First National Trustee Company (FNTC) America, a subsidiary of UK-based FNTC, a provider of trustee, title, escrow, foreclosure and finance services to the international timeshare industry.

FNTC America, an IQ-EQ Group company that serves the US timeshare industry, has announced that it is expanding its suite of services with the acquisition of PCS Holdings, the title agency affiliated with Eck, Collins & Richardson, a timeshare foreclosure and closing firm. 

PCS provides title, closing, escrow and related timeshare inventory services to ECR’s clients. In addition, FNTCA and ECR have entered an arrangement that allows both parties to provide seamless title, trustee, foreclosure, escrow and legal services to their shared clients, the firm said in a statement. The transaction is effective this week.  

IQ-EQ rebranded its US-based firms after a raft of acquisitions last year. The firms that took the IQ-EQ name are Blue River Partners, Constellation Advisers, Concord Trust Company, and Greyline Partners.

Welcoming the move, Declan Kenny, chief executive at FNTC, said: “We are thrilled to welcome the PCS team. Combining the scope and talent of our subsidiary Vacation Ownership Title Agency with PCS strengthens our ability to serve our timeshare clients. This, and the association with Eck, Collins & Richardson, gives us the ability to offer our clients a single source solution for all their title, trustee, foreclosure, escrow, recording and financing needs.” 

“Philip Richardson has led Eck, Collins & Richardson and PCS for 14 years, while the firm has been in business for over 50 years. They are a trusted partner for timeshare developers and managers who depend on them to execute their timeshare closings, foreclosures and title transfers. This perfectly complements our services as we continue to grow our presence in the United States,” continued Kenny. 

Richardson added: “Joining the FNTC team gives us the opportunity to accelerate our growth plans, provides access to proprietary technology and expands our team of seasoned experts who will help us better serve our clients’ needs.”

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