David Snyder, owner, President and CEO of the Delta Group of Settlement Companies, and his
wife Dorothy Snyder, have announced the sale of their company to Michael Upchurch of
Jacksonville, Florida. Upchurch currently owns Upchurch Financial Services (UFS).
In his February 26, 2008 announcement to Delta Settlement employees,
Snyder stated: "UFS will purchase the controlling stock of Delta Group
on or about March 1, 2008. Michael
[Upchurch] wishes to maintain the Delta Group name and will retain the
company brand. He will assume the position of Chairman of the
Board/Chief Executive Officer, and I will retain my position as
President of the company at least through the end of this year. Dorothy
Snyder and her staff in the San Juan Capistrano Home Office of Delta
Group have agreed to remain with the company to assist Michael with the
transition."
In his communication, Snyder added: "One
of the main reasons Dorothy and I selected Michael Upchurch to purchase
our company is that we felt he will bring much needed "added value" to
you, the Producers. ... We are
confident that once you have had a chance to work with Michael, you too
will feel comfortable with his honesty and integrity, and will help him
grow the company to become the foremost plaintiff firm in the business."
Upchurch was equally positive about Delta Settlements and structured settlements: "Structured settlements is a great business with a great future. Dave and Dorothy Snyder are structured settlement pioneers and visionaries. They deserve tremendous thanks from our industry for what they have contributed. Delta Settlements and the Snyders have mentored and launched many current structured settlement leaders. I am honored and excited about my new relationship with Delta. Delta Settlements and structured settlements have tremendous upside potential. With support from Dave and Dorothy, as well as Delta's employees and Delta's product providers, Delta will continue to distinguish itself as a structured settlement industry leader."
The Delta Group was founded in 1990 by David and Dorothy Snyder and Charles Bradford. The Snyders purchased Bradford's share of Delta Group in 1995. The Delta Group has helped launch several structured settlement firms whose founders and owners began their structured settlement careers with the Delta Group including: Bradford & Associates of Atlanta Georgia; Millennium Settlements of Tallahassee Florida; and The James Street Group of Austin Texas.
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