Meritage Homes, the No. 5 company on the 2024 BUILDER 100 list, has expanded its home building operations into the Gulf Coast through the acquisition of Elliott Homes.
Elliott Homes is a builder with approximately 20 communities in Mississippi, Alabama, and the Florida panhandle. Prior to the acquisition, Meritage Homes’ operations in Florida were focused in the Orlando, Tampa, south Florida, Jacksonville, and Palm Coast markets.
With the acquisition, Meritage Homes will acquire over 5,500 lots and expects to commence production operations in existing entry-level communities before the end of the year. Meritage said it expects “meaningful contribution” from these operations in 2025.
“This acquisition provides us with a respected team and valuable assets positioned in the highly desirable markets in the Gulf Coast,” Phillippe Lord, CEO of Meritage Homes, says. “This is our first acquisition since 2014 and aligns with our spec building strategy of affordable entry-level homes. We are excited to be partnering with founder and CEO Brandon Elliott and the entire Elliott team, as we welcome them into the Meritage family.”
Builder Advisor Group served as the exclusive financial advisor for Elliott Homes.
“I am proud of the Elliott team for their incredible growth as professionals,” says Brandon Elliott. “We look forward to joining Meritage and leveraging their scale as a top five national builder to bring more affordable quality homes to the Gulf Coast markets and most importantly, add value for the home buyer.”
