Crestview, Kentucky-based Fischer Homes is entering the Louisville market with the purchase of the majority of the land assets of Dogwood Homes, effective January 1, 2018. Terms were not disclosed.
Dogwood Homes, owned by Richard Miles, who started the company 20 years ago, is set to deliver more than 200 homes in Louisville in 2017. Privately held Fischer Homes is the 38th largest builder in the U.S., and has been in business since 1980.
Said Miles, who is President of Dogwood Homes, “Since our first discussion, it became apparent we had a fit with the Fischer Homes culture and that they would be a great addition to what we are doing in the Louisville market. Fischer is known for customer satisfaction and building communities that stand the test of time. This is the right fit for Dogwood Homes, and we know our customers will benefit from this deal.”
Miles will begin working for Fischer Homes as the Market President for the new Louisville Division of Fischer Homes effective January 1. The Louisville division will be building homes in Bullitt, Spencer, Oldham, Shelby and Jefferson counties.
“Richard brings a wealth of home building experience to our organization. He and his team have done an amazing job of growing their business in the Louisville market, and we look forward to their ongoing contributions to our business,” said Tim McMahon, President and COO of Fischer Homes.
The Dogwood team will remain in place with this transition. Dogwood is operating in 14 area communities in Louisville.
“The market in Louisville is poised for growth in the next decade and beyond,” said Bob Hawksley, CEO of Fischer Homes.
Fischer Homes will be completing the construction management services beginning on January 1 for any homes still under construction, and will also perform warranty services for Dogwood Homes customers.
Fischer Homes has been on a growth trajectory since entering the Columbus, OH market in 2008, followed by Indianapolis in 2010, and Atlanta in 2012. In addition to being the market leader in the Cincinnati MSA, Fischer Homes is number three in the Columbus market in sales, and number four in Indianapolis, and is on track for over 200 closings in Atlanta this year.
