Japanese homebuilder Sekisui House announced last month that it bought Denver-based MDC Holdings for $4.9 billion. Paying $63 in cash per share, Sekisui House first made public its buyout plans at the start of this year.
“We are excited to welcome MDC’s management and employees to the Sekisui House team,” said Sekisui House Board Representative, President, and CEO Yoshihiro Nakai.
With the acquisition, Sekisui House became the fifth-largest housebuilder in the United States, according to Asia Business Law Journal. The Japanese company plans to build 10,000 homes outside Japan.
“After 50 years of standalone growth, today marks an incredible new chapter as MDC becomes part of Sekisui House and positioned for another 50 years of success,” said MDC Founder and Executive Chairman Larry Mizel and President and CEO David Mandarich in a statement.
“We are excited about the opportunities for growth for our team members and within our customer offering. Now that the transaction is complete, we look forward to supporting a seamless integration,” they added.
With the acquisition of MDC, Sekisui’s presence in the United States will expand to 16 states.
