Thursday, February 17, 2011

October Research sold to business consultant

October Research Corporation, Cleveland, publisher of The Title Report, The Legal Description, Valuation Review and RESPA News, has been acquired by Robert M. Stutz II, AVA, ASA, CM&AA, a business valuation consultant from Columbus, Ohio. Chris Casa, who co-founded the company with his father, Joseph Casa, in 1999, has been named CEO of the company.

“My family has been involved with various aspects of the real estate industry for decades, and I am excited to be part of an organization that has been at the forefront of providing critically important information to an industry that is part of the bedrock of our nation and economy,” Stutz said. “My goal is to continue to provide these important information and education services to the industries we serve, as well as to explore new delivery models that will help our customers thrive in the years ahead.”

Stutz is the former director of consulting at GBQ Consulting LLC. His career has been dedicated to the valuation of private and public businesses. He has been involved in numerous valuation projects involving estate and gift tax, ESOP, goodwill impairment, purchase price allocation and fairness opinions. He is a frequent speaker on valuation topics and is a designated instructor for the National Association of Certified Valuation Analysts’ (NACVA) training course on valuation discounts and premiums and the market approach.

“Rob not only brings his knowledge of the real estate markets to our company, but also his vast experience in analyzing and understanding the basic fundamentals that drive a company’s growth,” Chris Casa said. “We are excited to work with Rob to continue the tradition that my father established. More importantly, we welcome Rob’s energy, knowing his leadership and guidance will fuel our growth in the coming years.”

In naming Chris Casa CEO of October Research, Stutz highlighted the mission of the company as well as Chris’s knowledge of the industry, and the long-established relationships he has nurtured in the industry.

“October Research is a unique publishing entity that has carved out an important niche in the mortgage and settlement services market, leveraging original content and market research to provide effective and robust multi-media channels for its client base,” Stutz said. “Chris and his staff bring to this process a deep, granular understanding of the people, companies and processes within the real estate industry. I am pleased that Chris has agreed to join me in this venture and look forward to working with him and his talented staff to deepen and broaden our reach within the industry.”

The sale was finalized on Feb. 11. The company will operate under the name, October Research.

I worked for Joe Casa for a year and was very sad to learn of his passing. I am pleased that his legacy will live on and wish the company and its new owner well.

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