Mattamy Homes has announced it has reached a definitive agreement to acquire the home building operations of New Synergy Homes in Dallas. The acquisition of New Synergy, a home building operation of Dallas-based developer and builder Centurion American Development Group, is anticipated to close on Nov. 2.
As a result of the transaction, Mattamy will own and control more than 3,400 home sites in 26 future communities. Larry Craven, a veteran leader of numerous Dallas home building organizations over the past 25 years, will become the president for the new Dallas division, reporting to Keith Bass, CEO of Mattamy Homes.
“Dallas’ booming economy and strong job market presents a tremendous growth opportunity for Mattamy Homes,” says Peter Gilgan, chairman and CEO of Mattamy Asset Management, the parent company of Mattamy Homes. “We have been looking for the right opportunity to enter the Dallas market for several years and are pleased to be able to launch our new operation with a large and enviable land position that is extremely rare for this constrained land market.”
Mattamy will offer employment opportunities to all employees of New Synergy and will not acquire the land development operations of Centurion American Development Group, which will continue to be led by longtime president and CEO Mehrdad Moayedi.
“I am excited to have a home builder with Mattamy’s outstanding reputation for quality craftsmanship, thoughtfully designed communities, and beautifully designed homes make such a significant commitment to our market,” says Moayedi. “We look forward to working with Mattamy and our other builder partners as we serve the needs of families throughout the Dallas-Fort Worth market.”
