ATLANTA--(BUSINESS WIRE)--Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today announced that it had acquired several communities in Raleigh and Myrtle Beach from Bill Clark Homes, a leading private homebuilder in the Carolinas.
In this transaction, Beazer acquired more than 450 lots spread across four new home communities in Raleigh and three in Myrtle Beach. These communities will be incorporated into the Company’s existing operations in Raleigh and Myrtle Beach and will contribute to both revenue and Adjusted EBITDA in Fiscal 2018. The transaction value was approximately $29 million and was funded from available cash.
“This acquisition allows us to accelerate our growth in two existing markets, with an immediate contribution to both profitability and return on assets and no increase in leverage,” said Allan Merrill, President and CEO of Beazer Homes. “In addition to adding the new communities, we are pleased to welcome a number of new sales and construction colleagues who will enable us to pursue additional growth in Raleigh and Myrtle Beach in the years ahead.”
About Beazer Homes
Headquartered in Atlanta, Beazer Homes is one of the country’s largest single-family homebuilders. The Company’s homes meet or exceed the benchmark for energy-efficient home construction as established by ENERGY STAR® and are designed with Choice Plans to meet the personal preferences and lifestyles of its buyers. In addition, the Company is committed to providing a range of preferred lender choices to facilitate transparent competition between lenders and enhanced customer service. The Company offers homes in Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada, North Carolina, South Carolina, Tennessee, Texas and Virginia. Beazer Homes is listed on the New York Stock Exchange under the ticker symbol “BZH.” For more info visit Beazer.com, or check out Beazer on Facebook and Twitter.