February 24, 2017
Sekisui House Ltd., Japan’s largest homebuilder, entered into a definitive merger agreement to acquire Woodside Homes, a Salt Lake City-based builder with operations throughout the Southwest. The acquisition value is approximately $468 million, with the purchase anticipated to close in late February 2017.
Woodside Homes’ brand, executive team and operations will remain the same. Sekisui House will provide shared technologies and economic resources. “There is a natural alignment between our companies — both sharing the same philosophy of creating environmentally sound communities and fulfilling the housing industry’s responsibility to future generations. Woodside Homes is an important growth platform for our North America homebuilding operations,” said Isami Wada with Sekisui House.
Woodside ended up in bankruptcy in 2008 by creditors claiming they were owed $730 million. Oaktree Capital Management and Stonehill Institutional Partners later acquired ownership of the company.
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