Osaka, Japan-based Sekisui House Ltd. has acquired Woodside Homes, a homebuilder with headquarters in Salt Lake City and additional operations in Arizona, California and Nevada. Sekisui House, Japan’s largest homebuilder and a leading diversified developer, will complete the transaction through one of its wholly owned U.S. subsidiaries. Woodside Homes is one of America’s top 30 homebuilders, having built more than 40,000 homes across the nation.
The acquisition of Woodside Homes is part of Sekisui House’s long-term growth strategy to diversify its business portfolio and create operating synergies within its other operating platforms, the firm said in a release.
“There is a natural alignment between our companies — both sharing the same philosophy of creating environmentally sound communities and fulfilling the housing industry’s responsibility to future generations,” said Isami Wada, chairman, representative director and CEO of Sekisui House. “Woodside Homes is an important growth platform for our North America homebuilding operations.”
Joel Shine, CEO of Woodside Homes, said, “We’re thrilled with the opportunity to join forces with Sekisui House. The acquisition provides the opportunity for us to continue to build homes with lasting value, integrity and quality while providing excellent service and earning the trust and respect of customers who seek the most from their homeownership experience.”
Woodside Homes’ company name, executive team and daily operations will remain the same, Shine said. Sekisui House will provide shared technologies and economic resources in support of Woodside Homes’ growth. Both parties will exchange creative ideas and techniques to create value and address the many and varied needs of the individual homeowner and the broader homebuilding market.
Closing is scheduled to occur by the end of February. Terms were not disclosed.