Publication Date:
Mon, 2011-04-04 04:55
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A consortium of private investment firms has acquired the U.S. and Canadian operations of U.K. home builder Taylor Wimpey for $955 million in a deal [1] that is expected to close in May.
The deal involves the acquisition of Scottsdale, Ariz.-based Taylor Morrison, which develops communities and builds homes throughout Arizona, California, Colorado, Florida, and Texas, as well as Canadian builder Monarch Corp. The two had combined revenue of roughly $1.3 billion in 2010.
The buyer group includes TPG Capital LP and Oaktree Capital Management, which both own majority equity interest, and JH Investments, which gets a minority stake.
