United Homes Group, Inc. acquired Rosewood Communities, Inc. from Mark Nyblom for $23 million.
October 25, 2023
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United Homes Group, Inc. (NasdaqGM:UHG) acquired Rosewood Communities, Inc. from Mark Nyblom for $23 million on October 25, 2023.
United Homes Group, Inc. (NasdaqGM:UHG) completed the acquisition of Rosewood Communities, Inc. from Mark Nyblom for $23 million on October 25, 2023. The purchase price for the Rosewood Acquisition consisted of (a) cash at the Closing in the amount of $13.0 million, subject to a customary post-closing adjustment based on the Closing Book Value of Rosewood as of the Closing Date, (b) a warranty reserve of $0.3 million to be used to satisfy Rosewood warranty claims, and (c) the potential future payment of an earnout generally equal to 25% of EBITDA attributable to Rosewood?s business through December 31, 2025. In addition, the Company paid off approximately $10.0 million of liabilities of Rosewood.
United Homes Group, Inc. is a residential builder. The Company designs, builds and sells homes in high growth markets, including South Carolina, North Carolina, and Georgia. It has 63 active communities. UHG principally builds detached single-family houses, and, to a lesser extent, attached single-family houses, including duplex houses and town houses. The Company operates through two segments: South Carolina and Other. South Carolina segment consists primarily of the Companyâs homebuilding operations in South Carolina and a small amount of operations in Georgia. Other segment consists of homebuilding operations in Raleigh, NC, as well as the Companyâs mortgage banking joint venture. It leases local offices in Myrtle Beach, South Carolina, Mauldin, South Carolina and Raleigh, North Carolina. The Company has delivered approximately 14,000 homes.
UNITED HOMES GROUP, INC. 