Reston, Virginia-based Stanley Martin Homes LLC, a homebuilder focused on the Mid-Atlantic and Southeast regions, is acquiring Columbia, South Carolina-headquartered United Homes Group Inc. (NASDAQ: UHG) in an all-cash transaction valued at approximately $221 million.
United Homes focuses on creating attainable single-family homes across high-growth markets in the Southeast, primarily serving entry-level and first-time move-up buyers. Upon completion of the transaction, United Homes Group will become a subsidiary of Stanley Martin Homes and will no longer be publicly traded.
“Stanley Martin’s mission statement is ‘To design and build homes people love at a price they can afford,’” said Steve Alloy, CEO of Stanley Martin. “The combination of Stanley Martin and United Homes is a big step forward to deliver new housing at affordable prices to more prospective homebuyers.”
“This transaction delivers immediate and certain cash value to our shareholders while aligning United Homes with a highly respected, well-capitalized builder in Stanley Martin,” said Jack Micenko, CEO of United Homes Group. “We are proud of the platform our team has built and believe this combination represents the best outcome for our shareholders and an outstanding opportunity for our employees, trade partners and customers.”
