After
Dream Finders entered a definitive agreement to buy Beazer in an all-cash transaction for about $2.2 billion, the companies announced in a press release Friday. Beazer shareholders will receive $33.50 in cash for each common stock they own, slightly below Thursday's closing price of $34.07.
The transaction was unanimously approved by the boards of directors of both companies and is expected to close in the fourth quarter this year, subject to customary closing conditions, including approval by Beazer shareholders and regulatory clearances.
If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the United States with around $6.6 billion in combined revenue. Together, they will operate in 26 markets and approximately 520 active communities across the Southeast, the Mid-Atlantic, Texas, the West and the Midwest, according to the release.
"This combination is the next meaningful step in our journey to become a top-five national homebuilder, expanding our geographic reach, broadening the range of buyers we can serve, and strengthening the integrated services we offer families from contract to close," said Patrick Zalupski, founder, CEO and co-chairman of Dream Finders, in the release.
How this deal affects the mortgage industry
Beazer's Mortgage Choice program may be folded into Dream Finders' lending operation, Jet HomeLoans — a move with implications for the industry.
DreamFinders expects to save more than $100 million annually through production efficiencies, purchasing improvements, reduced overhead, elimination of duplicate public company costs and higher
The mention of mortgage originations suggests the potential growth of Jet HomeLoans played a role in the acquisition.
But the company did not say whether Beazer's current system will remain in place or how it will be integrated with its established businesses.
Beazer does not own an in-house mortgage company, instead its Mortgage Choice program helps buyers compare competing loans officers in their area from prescreened lenders. The Choice Lenders are selected based on their product offerings, customer service and willingness to compete for business. This often results in cost savings, the company said.
About 84% of Beazer's fiscal 2025 customers financed at least a portion of their home purchase.
Jet HomeLoans, on the other hand, originated 1,549 loans totaling $605 million in
"This transaction represents an important milestone for Dream Finders and reflects our board's confidence in the strategic and financial merits of combining two leading companies," Co-Chairman Rick Beckwitt said in the release. "Patrick and the team have mapped out a detailed integration plan to maximize synergies that will drive long-term growth and profitability."
