Colorado homebuilder completes $356 million merger with California company

DENVER BUSINESS JOURNAL – Greenwood Village-based home builder Century Communities Inc. said today it has completed its merger with San Jose, California-based builder UCP Inc.

Since its founding in 2002 by brothers Dale and Rob Francescon, Century Communities has set out to grow through mergers and acquisitions, but the UCP deal is by far its largest, positioning the company as a coast-to-coast home builder.

he combined company — which also includes UCP affiliate builder Benchmark Communities — will operate as Century Communities, with a reach across 10 states in the West and Southeast. It will continue to trade under the “CCS” ticker symbol on the New York Stock Exchange.

The cash-and-stock “business combination” is valued at $356 million, including the payment of about $149 million of UCP debt, Century said.

Read more at the Denver Business Journal: http://bit.ly/2ub7nN2

© 2017 KUSA-TV

Source Article

Be the first to comment

Leave a Reply

Your email address will not be published.


*