The past week has been a busy one for Arizona-based home builders, particularly Taylor Morrison Home Corp., which divulged some more big news on Wednesday that it will be acquiring a family-owned home builder in Texas for an undisclosed amount, reports Kristena Hansen at the Phoenix Business Journal
Scottsdale’s Taylor Morrison has entered into a purchase agreement to acquire Dallas-based Darling Homes. The completion of the deal is contingent on several conditions and approvals that were also not disclosed, according to a company statement.
The acquisition announcement comes exactly one week after Taylor Morrison’s S-1 filing with the US Securities and Exchange Commission requesting to go public for $250 million, which, if successful, would make it the second publicly traded home builder in Arizona. The other is Scottsdale-based Meritage Homes Corp. (NYSE: MTH).
As Taylor Morrison juggles an IPO, company acquisition and day-to-day operations in the coming weeks, Gilbert-based Trend Homes will be busy transitioning into new ownership of a public company. On Monday, Ryland Group Inc. (NYSE: RYL) in Westlake Village, Calif., announced its acquisition of all Trend Homes operations and assets for — you guessed it —an undisclosed amount.
