Scottsdale homebuilder Taylor Morrison purchased for $955M

A consortium of investment funds today formally acquired Scottsdale home builder Taylor Morrison Taylor Morrison The deal first was announced March 31. The seller of both home-building operations was Taylor Wimpey PLC, a U.K. builder. The official buyer is TMM Holdings LP, which is owned indirectly by investment funds managed separately by TPG Capital, Oaktree Capital Management LP Oaktree Capital Management LP Taylor Morrison CEO and President Sheryl Palmer said the buyout provides capital for further expansion of the Taylor Morrison brand. “We’ve shown that we can be a profitable, viable company during a difficult time. This sale is a vote of confidence for the team and the way we do business and we’re looking forward to capitalizing on it,” Palmer said. In a previous interview with the Phoenix Business Journal, Palmer said the deal also provides the company with additional flexibility in its operations. She said day-to-day operations will remain largely the same. Taylor Morrison builds single family residences and townhomes in Arizona, California, Colorado, Florida and Texas. Monarch builds high rise and low rise properties in Toronto and Ottawa, Canada. A third division, Taylor Morrison communities handles land acquisition and development. Taylor Morrison has 680 employees.

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