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Century Communities And UCP Announce $336 Million Merger
The combined company will operate in 10 states in the west and southeast
UCP, a land developer and home builder, will merge with Century Communities, a firm that constructs single-family homes, townhomes and flats.
Street Insider reports that the merger is worth $336 million. The combined company will operate in 10 states in the west and southeast (including 17 markets and 117 communities), with revenues of more than $1.3 billion and inventories of more than $1.2 billion. It will control 25,000 lots and have a backlog worth $450 million.
Century Communities ranked 22nd in Professional Builder’s 2016 Housing Giants list.
The transaction is expected to close at the end of the third quarter this year.
Rob Francescon, Co-Chief Executive Officer of Century noted, “The merger facilitates expanded product offerings across the full buyer segment spectrum with cutting edge designs at multiple price points for maximum customer reach.”