Century Communities Buys Remaining 50% Interest in Wade Jurney Homes.
15 June 2018 - US-based homebuilder Century Communities, Inc. (NYSE: CCS) has acquired the remaining 50% ownership interest in US-based homebuilder WJH, LLC, the company said.
Wade Jurney will continue as president of Wade Jurney Homes, which is now a wholly owned subsidiary of Century and will operate as a distinct brand under the Century umbrella while retaining its existing business model.
Wade Jurney Homes is the 35th largest US builder and was named the fastest growing private builder by Builder Magazine for 2015, 2016 and again in 2017.
Wade Jurney Homes is in providing affordable homes in Florida, Georgia, Alabama, North Carolina and South Carolina. Wade Jurney Homes specialises in providing single-family homes for entry-level buyers with sales prices averaging USD 150,000.
Its asset-light business model is streamlined and its homes are uniquely sold online and through retail outlets as opposed to model homes.
As of March 31, 2018, Wade Jurney had approximately 5,810 owned and controlled lots and 1,189 homes in backlog representing a value of USD 188.8m.
For the trailing twelve-month period ended March 31, 2018, Wade Jurney closed 1,937 homes generating USD 304.2m in revenue.
Century Communities, a Colorado-based company, operates in 12 states across the West, Mountain, Texas and Southeast US regions and offers title and lending services in select markets through its Parkway Title and Inspire Home Loan subsidiaries.
Sector: Construction/Real Estate
Target: WJH, LLC(Wade Jurney Homes)/remaining 50% stake
Buyer: Century Communities, Inc
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Jun 15, 2018|
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