Dream Finders Homes Inc. announced a deal Sept. 13 to expand in Texas and significantly grow its revenue.
The Jacksonville-based homebuilder agreed to buy assets of Houston-based McGuyer Homebuilders Inc.
McGuyer, which builds homes in Houston, Dallas, Austin and San Antonio, closed on more than 2,000 homes in fiscal 2000 and generated revenue of $900 million.
Dream Finders reported revenue of $709 million and closed on about 2,000 homes in the first half of 2021.
Dream Finders builds homes in Austin and in the Florida, North Carolina, South Carolina, Georgia, Colorado, Virginia and Maryland markets.
“The MHI transaction will significantly increase our geographic operations in the Austin region and will allow us to expand into Houston, Dallas and San Antonio,” Dream Finders CEO Patrick Zalupski said in a news release.
“These metro areas rank as some of the largest and fastest growing residential homebuilding markets nationally with aggregate permits in excess of 120,000 annually,” he said.
Dream Finders, which went public in January, said in a Securities and Exchange Commission filing the estimated purchase price for McGuyer will be $475 million.