Neumann Homes, a top-five builder in Chicago, solidified its standing in the Midwest with the January acquisition of Troy, Mich.–based Tadian Homes. In 2004, Tadian closed more than 500 units and booked about $150 million in revenue. With the purchase, Neumann expects to close more than 2,400 units in 2005. Dennis Bailey, longtime president of Tadian, will remain with the company, running what will be known as Neumann’s Michigan division. Terms of the deal were not disclosed.
Learn more about markets featured in this article: Chicago, IL.
