Case Studies

of M&A, IPO, capital-raising assignments, including project and corporate-level debt and equity, preferred equity, mezzanine debt, and more.

stanleymartin
southernimpressionhomes
lgihomes
lenar
landseahomes
gehanhomes
empire
drhorton
dorn homes
ASGI HOMES
M&A Transactions
0 +

Since 1996

Capital raised in equity
$ 0 b+

Since 2008

capital raised in debt
$ 0 b+

Since 2008

M&A Advisory

Chesmar Homes Sold to Sekisui House

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M&A Advisory
  • BAG served as the exclusive advisor to Chesmar Homes in its sale to Sekisui House
    • Originally formed in 2005, Chesmar emerged in the Houston metro area as a leading entry-level and move-up homebuilder
    • Today, the company is one of the country’s largest private builders, closing 2,000 units annually across the core Texas markets
  • The company received strong interest from a wide array of buyers, including foreign investors and public builders
    • BAG worked with Chesmar CEO, Don Klein, to ensure that the acquirer had strong alignment in company values and high regard for Chesmar’s existing employees and customers
  • This transaction gives Sekisui a substantial presence in the Texas markets and adds a top-tier builder to its expanding U.S. homebuilder portfolio
  • Don Klein said about BAG: “Tony has a unique ability to be there in every moment – anticipated or not – when you need him. He also knows precisely when to step back and let the process go as it’s meant to among the principals. That kind of experience and depth of understanding of these big moments is rare.”

M&A Advisory

Long Term Advisor to the Orosz Family

M&A Advisory

  • Tony Avila began his relationship with Bill Orosz back in the early 2000s while preparing Cambridge Homes for sale
  • In 2005, BAG advised on Cambridge Homes’ sale to K. Hovnanian Homes
    • Transaction was a resounding success for both parties
  • In 2014, BAG began working with Bill and his sons, Matt, Stephen, and Andrew to sell Royal Oak Homes
    • After a competitive bidding process, Royal Oak Homes was sold to AV Homes (Now owned by Taylor Morrison)
  • In 2021, BAG worked with the Orosz team to sell their newest builder, Hanover Family Builders
    • The company had a strong land/lot pipeline leading to explosive growth since inception
    • The company received bids from a multitude of buyers, including public builders and foreign investors
    • After evaluating offers, the company was sold to Landsea Homes

Historical Data

of M&A, IPO, capital-raising assignments, including project and corporate-level debt and equity, preferred equity, mezzanine debt, and more.

All

Mergers & Acquisitions

2024
Landmark Homes of Tennessee acquired by Sekisui House

2023
ASGi Homes acquired by D.R. Horton

Southern Impression Homes acquired by Gehan Homes

2022
Chesmar Homes acquired by Sekisui House

Hannover Family Builders acquired by Landsea Homes

2021
McGuinn Homes Completes Recapitalization

Realstar Homes acquired by Lennar

MHI / McGuyer Homebuilders acquired by Dream Finders Homes

Avex Homes aquired by Stanley Martin Homes

Buffington Homes acquired by LGI Homes

KenRoe, Inc. acquired by LGI Homes

Payne Family Homes acquired by Fischer Homes

Vintage Estate Homes acquired by Landsea Homes

Dorn Homes acquired by American Southern Homes

Shea Homes acquired by Empire Communities

Wonderland Homes acquired by Sumitomo Forestry/Gehan

Dilworth Development acquired by Harris Doyle Homes

2020
Sun Homes acquired by Toll Brothers, Inc.

2019
Grayhawk Homes acquired by American Southern Homes

American West Homes acquired by PulteGroup

Edward Andrews Homes acquired by Empire Communities

Armadillo Homes acquired by View Homes

Dan Ryan Builders* acquired by Sumitomo Forestry

2018
Dunhill Homes acquired by Tri Pointe Homes

Etco Homes acquired by Lennar Corp.

Wynn Homes acquired by LGI Homes

Venture Homes acquired by Beazer

Arbor Homes acquired by Clayton Homes

Wade Jurney Homes* acquired by Century Communities

Mark III Properties acquired by Sumitomo Forestry

Brohn Homes acquired by Clayton Homes

2017
Bill Clark Homes acquired by Beazer

Sundquist Homes acquired by Century Communities

UCP acquired by Century Communities

Oakpointe Communities acquired by CalAtlantic

Kokes Family Home Builders acquired by Lennar Corp.

2016
Wade Jurney Homes acquired by Century Communities

Century Communities acquired by Wade Jurney Homes

Hovnanian Raleigh acquired by Lennar Corp.

Dan Ryan Builders acquired by Sumitomo Forestry

2015
Jack Fisher Homes acquired by LGI Homes

Bonterra Builders acquired by AV Homes

2014
Oakmont Homebuilders acquired by LGI Homes

Johnson Development acquired by Tricon Capital Group

Citizens Homes, Inc. acquired by UCP, Inc.

Royal Oak Homes acquired by AV Homes

2013
GTIS Partners acquired by LGI Homes

Regent Homes acquired by DR Horton

Miller & Smith acquired by Sekisui House

2012
Trend Homes acquired by Ryland Group, Inc.

2011
T.W. Lewis Companys acquired by David Weekley Homes

Wilshire Homes acquired by McGuyer Homebuilders, Inc.

TriStone Homes acquired by M/I Homes, Inc.

2008
Standard Pacific acquired by Matlin Patterson

2006
Palomar Builders, Inc. acquired by Premier Homes Properties, Inc.

John Landon Equity Interest

2005
First Home Builders of Florida acquired by Hovnanian Enterprises Inc.

Obra Homes (San Antonio Division) acquired by Sivage Homes & Communities

Transeastern Properties acquired by Technical Olympic USA Inc.

Advantage Homes acquired by Standard Pacific Corp.

Probuilt Homes acquired by Standard Pacific Corp.

Town & Country Homes Inc. acquired by Hovnanian Enterprises Inc.

Cambridge Homes acquired by Wilshire Homes Hovnanian Enterprises Inc.

2004
Peachtree Residential Property Inc. acquired by Orleans Homebuilders Inc.

Realen Homes LP acquired by Orleans Homebuilders Inc.

Spectrum Communities acquired by WCI Communities Inc.

Bowden Building Corp. acquired by Levitt Corp.

All

Capital Raising​

December 2022
BAG Announces Completion of $250mm Financing for a Builder

September 2021
Dream Finders Homes’ $150M Convertible Preferred Stock

August 2021
Century Communities $500M Unsecured Senior Notes

June 2021
LGI Homes’ $300M Unsecured Senior Notes

May 2021
LGI Homes’ $850M Syndicated Credit Facility

January 2021
Dream Finders Homes’ $450M Unsecured Revolving Credit Facility

January 2021
Dream Finders Homes’ $125M Initial Public Offering

July 2018
LGI Homes’ $300M Senior Notes

2007 – 2018
Metro Development’s $200M Capital Raise in five separate transactions

October 2017
Hayden Homes’ $50M Equity Raise

March 2017 & 2015
LGI Homes’ $25M and $30M At-the-Money Follow-On Equity Offerings

June 2016
Liberty Home Builders’ Mezzanine Debt Raise

June 2015
Empire Communities’ Second Lien Term Loan

November 2014
LGI Homes’ $85M Convertible Notes Offering

October 2014
UCP’s $75M Senior Notes

June 2014
Century Communities’ $103M Initial Public Offering

 

November 2013
LGI Homes’ $114M Initial Public Offering

September 2013
Carlyle Group’s $75M Equity Investment into Edward Andrews Homes

2012
Johnson Development’s $300M Joint Venture with Tricon Capital to purchase Camp Strake, Fulshear Farms, and Cross Creek Ranch