General Contractors & Builders M&A » By The Online Investor Staff, updated Fri., Apr. 3, 6:12 PM
Recent mergers and acquisitions in the General Contractors & Builders M&A category.
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Slide #1. D.R. Horton, Inc. — Homebuilding Operations of Crown Communities
Acquirer:
D.R. Horton, Inc. (NYSE:DHI)
Acquiree:
Homebuilding Operations of Crown Communities
Details:
D.R. Horton, Inc. (NYSE:DHI), America's Builder, announced the acquisition of the homebuilding operations of Crown Communities ("Crown"), which builds in Georgia, South Carolina, and eastern Alabama. The homebuilding assets acquired include a sales order backlog of approximately 420 homes sold, 640 homes in inventory and 2,350 lots. D.R. Horton also acquired control of approximately 3,400 lots through option contracts. In calendar 2013, Crown closed 1,540 homes ($375 million in revenue) with an average home size of approximately 3,500 square feet and an average sales price of $244,000. Crown is ranked as the 28th largest builder in the United States by Builder Magazine and is the largest builder in the Atlanta market. D.R. Horton will pay approximately $210 million in cash for the purchase, and Crown will operate as a separate division within D.R. Horton.
D.R. Horton is a homebuilding company. Co.'s business operations consist of homebuilding, a majority-owned residential lot development company, financial services and other activities. Co.'s financial services operations provide mortgage financing and title agency services to homebuyers in its homebuilding markets. Co.'s subsidiary, DHI Mortgage, provides mortgage financing services primarily to its homebuyers and generally sells the mortgages it originates and the related servicing rights to third-party purchasers. Co.'s subsidiary title companies serve as title insurance agents by providing title insurance policies, examination and closing services, primarily to its homebuyers.
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List of General Contractors & Builders Mergers & Acquisitions in this Slideshow:
8/15/2012:
Acquirer: D.R. Horton, Inc. (DHI)
Acquiree: Homebuilding Assets of Breland Homes
Merger/Acquisition details: details »
12/10/2012:
Acquirer: The Ryland Group, Inc. (RYL)
Acquiree: Trend Homes
Merger/Acquisition details: details »
1/3/2013:
Acquirer: NVR, Inc. (NVR)
Acquiree: Heartland Homes, Inc.
Merger/Acquisition details: details »
5/10/2013:
Acquirer: The Ryland Group, Inc. (RYL)
Acquiree: Operations of LionsGate Homes
Merger/Acquisition details: details »
6/14/2013:
Acquirer: Standard Pacific Corp. (SPF)
Acquiree: Select Homebuilding Assets from Centerline Home
Merger/Acquisition details: details »
6/17/2013:
Acquirer: Cavco Industries, Inc. (CVCO)
Acquiree: Fleetwood Homes, Inc.
Merger/Acquisition details: details »
9/4/2013:
Acquirer: Meritage Homes Corporation (MTH)
Acquiree: Phillips Builders
Merger/Acquisition details: details »
11/6/2013:
Acquirer: Toll Brothers, Inc. (TOL)
Acquiree: Shapell Industries homebuilding business
Merger/Acquisition details: details »
2/5/2014:
Acquirer: Toll Brothers, Inc. (TOL)
Acquiree: Shapell Industries, LLC
Merger/Acquisition details: details »
4/8/2014:
Acquirer: Universal American Mortgage Company (LEN)
Acquiree: Certain Assets of Pinnacle Mortgage Group, Inc.
Merger/Acquisition details: details »
5/9/2014:
Acquirer: D.R. Horton, Inc. (DHI)
Acquiree: Homebuilding Operations of Crown Communities
Merger/Acquisition details: details »
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