The consolidation in everything continues and we see it in the home building arena. A local favorite, Rosewood Communities, was just acquired by United Homes Group which is a publicly traded company headquatered just out of Columbia, SC. Rosewood Communities builds a gorgeous cottage home in several communities throughout the Upstate of South Carolina. They are a high quality builder that will help $UHG continue to grow in the high growth market of the Upstate.
Here’s the press release announcing the purchase. Congratulations to Rosewood’s owner, Mark Nyblom on the exit. He developed Rosewood Communities into a top notch home building company that delivered a product people really enjoyed. Hopefully United Homes Group will continue with this excellent in quality, design and style. According to the press release, Mark Nyblom will stay on as division manager which should be a good thing.
“Acquiring Rosewood Communities is a great opportunity to expand our existing footprint in the Upstate area,” said UHG Chief Executive Officer Michael Nieri. “With a world-class university in Clemson and a booming industrial base in Greenville with employers like BMW, Upstate South Carolina is a fast growing, attractive new home market. Rosewood’s innovative home designs will also allow us to diversify our product offering in the Upstate, and we plan on using their designs in our other markets.”
There was no mention of the price paid. It sure seems to me to be a brilliant acquisition as I would think these types of plans and communities will be well received throughout the markets where UHG is established as well as those they will move into in the future. Congrats to all involved!