JTW Advisors Advises Crescent Homes on Blockbuster Sale to Dream Finders Homes

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Feb 05, 2024, 08:51 ET

CHARLOTTE, N.C., Feb. 5, 2024 /PRNewswire/ -- JTW Advisors LLC served as the sell-side M&A advisor to Crescent Homes in their sale to publicly traded Dream Finders Homes. JTW Advisors played a pivotal role in navigating the complexities of the deal and ensuring the objectives of Crescent Homes' owner were met and exceeded.

This is JTW's third M&A transaction in less than 4 months – totaling over $640 million and over 10,200 lots. JTW served as sell-side advisor to Denver based Richfield Homes in their October sale to publicly traded Landsea Homes and buy-side advisor to Trumark Homes (majority owned by Japan's Daiwa House) in their October acquisition of Central California-based Wathen Castanos Homes.

Ted Terry, a 5^th generation homebuilder and owner of Crescent Homes, utilized JTW Advisors to ensure the sale of his company met his objectives for a transaction. Specifically, JTW Advisors was instrumental in securing: (1) access to capital; (2) career opportunities for his team; (3) a long-term interest in the business; and (4) a monetization event for his family. "I am thrilled to have partnered with JTW Advisors for this transaction" said Ted Terry, owner of Crescent Homes. "They took the time to understand our unique goals and developed creative solutions to ensure our long-term success."

Demand for Crescent was strong, driving multiple bids for the company. Additionally, Ted's desire to retain an ownership interest and to have operational involvement in the business required JTW Advisors to find a bespoke solution that allowed a win-win for both Crescent and Dream Finders' land light business model. "This transaction demonstrates our commitment to finding creative solutions that go beyond traditional M&A approaches," said Chris Jasinski, CEO and managing partner at JTW Advisors. "We are delighted to have exceeded Ted's objectives and are confident this partnership will yield significant benefits for both parties involved."

Dream Finders secured operations in three new markets in the southeast including: Charleston, SC; Greenville, SC; and Nashville, TN. Dream Finders acquired a backlog of 460 homes totaling over $265 million in 25 actively selling communities, an experienced team, and a pipeline of 6,200 owned and controlled lots.

"This transaction is further evidence of the strength in the homebuilder M&A market," said JTW's Chris Jasinski, CEO and managing partner at JTW Advisors. "Consolidation has accelerated in the past two years. Public, foreign, and large private builders possess a healthy appetite to acquire smaller private builders in their quest to gain market share and are willing to be creative in deal structures. This comes at a time when private builders are facing increasing challenges to secure the capital needed to maintain and grow their businesses."

This successful transaction not only demonstrates JTW Advisors' position as a trusted M&A partner but highlights their ability to navigate deals creating lasting value, providing a model for future success in the homebuilding sector.

About JTW Advisors
JTW Advisors LLC is a boutique investment bank focused exclusively on the residential housing industry. With offices in Charlotte, Philadelphia, Tampa, and Los Angeles, the firm provides mergers & acquisitions and capital advisory services to homebuilders, land developers, and building products companies. JTW provides both sell-side and buy-side M&A advisory services, including guiding clients through all stages of the M&A process: financial modeling, valuation, deal prep, positioning & marketing, diligence, and closing. For more information, visit http://jtwadvisors.com/ or contact the firm directly at [email protected] or (704) 412-3080.

Media Contact:
Kaden Jacobs, Poston Communications, [email protected], (404) 875-3400

SOURCE JTW Advisors LLC