Stanley Martin to Acquire Avex Homes Assets and Operations
2021 National Builder of the Year Continues Expansion to Central Florida.
Reston, VA. September 9, 2021.
Stanley Martin announced today that it has entered into an agreement to acquire all the homebuilding assets and operations of Avex Homes in Central Florida. The homebuilding assets include over 300 homes currently under construction and more than 4,400 controlled lots in the Orlando, Tampa, and Daytona markets. The transaction is expected to close in September 2021.
“We have strategically been working to enter the Florida market for several years. When we first met the leaders of Avex Homes, we immediately recognized what a great fit they would be with Stanley Martin. We had shared values and a shared commitment to customers, and we both had a strong focus on quality. I am thrilled to have the Avex Homes team become a part of Stanley Martin,” said Steve Alloy, President of Stanley Martin.
Beat Kahli, the Chief Executive Officer of Sitex Properties USA, Inc., the largest shareholder of Avex Homes said, “we selected Stanley Martin as our acquisition partner among many compelling offers because of its track record of successful acquisitions, experienced leadership, and strong financial performance.” Eric Marks, President of Avex Homes, added, “We have been building high quality homes in Central Florida since 2012, and we have successfully grown each year. Our plan is to continue our expansion by combining our local experience with the resources of Stanley Martin. It is an exciting announcement for our team members, and I am looking forward to a successful future as a part of Stanley Martin.”
About Stanley Martin Homes
Stanley Martin was founded in 1966 and is headquartered in Reston, Virginia. The company is driven to deliver on its mission “to design and build homes people love at a price they can afford.” Stanley Martin operates in the Southeast in the following metro areas: Atlanta, GA; Augusta GA; Aiken SC; Charleston, SC; Columbia, SC; Greenville/Spartanburg, SC; Charlotte, NC; Raleigh, NC; Wilmington, NC; Charlottesville, VA; Richmond, VA; and the Washington D.C. Metro Area. In 2021, Stanley Martin was named National Builder of the year by Builder Magazine. For more information about Stanley Martin Homes and its neighborhoods, visit stanleymartin.com.
Stanley Martin Homes, LLC is a subsidiary of Stanley Martin Holdings, LLC, which is a subsidiary of the Daiwa House Group. The Daiwa House Group is headquartered in Japan and is one of the largest housing, construction, and development companies in the world.
Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York, NY and Dean Mead in Orlando, Florida both provided legal representation for Stanley Martin. Watson Sloane represented the sellers. Builder Advisor Group served as exclusive M&A advisor to AVEX in the transaction.