Case Studies

Founded in 2009, Pyatt Builders is a top ten homebuilder and among the largest privately held builders in Indianapolis
The Company focuses on entry-level and move-up buyers and has earned a reputation for crafting quality homes, distinguished by thoughtful design, offered at affordable prices with an average selling price of approximately $400K in 2023
Privately owned by its two founding partners
Ranked the 156th largest U.S. homebuilder by Builder Magazine in the 2023 Builder 100 list
Mandate: Sell-side advisor
Led a comprehensive sell-side M&A process, including preparation and positioning, marketing, due diligence, and final negotiations
Focused on seeking the right long-term fit in both chemistry and capital availability, which would allow one of the owners and his entire team to remain in their positions and continue to successfully execute and grow the platform
Prepared full investor presentation, refined the client’s business model, and ensured a timely close which was within 60 days of a signed LOI
In April 2024, Taylor Morrison (NYSE: TMHC) acquired 100% of Pyatt Builders
Builder Online: Taylor Morrison Expands Into Indianapolis Market, Updates Growth Targets
The Builder’s Daily: Indy-Area M&A Pick-Up Gives Taylor Morrison Midwest Entree

Originally founded in 1927, and operating in Tennessee since 1995, the Jones Company is one of the largest private homebuilders in the fast-growing Nashville area
Serving price points from first move-up to luxury, the Company is well known for consistent execution, closing over 5,000 homes from 2004 to 2023
Privately owned by the founders’ families and senior management
Ranked the 146th largest U.S. homebuilder by Builder Magazine in the 2023 Builder 100 list
Mandate: Sell-side advisor
Guided the Jones team through a period of market volatility to fulfill the owner’s specific transaction goals
In the summer of 2023, identified CastleRock Communities as an earnest and discreet buyer who would keep the Jones team intact post-close
Successfully navigated the complex diligence and board approvals necessary for CastleRock’s Japanese parent, Daiwa House
Managed overall transaction due diligence, negotiation, and timing to close
In January 2024, CastleRock Communities, a subsidiary of Japan-based Daiwa House, acquired 100% of The Jones Company
Builder Magazine: CastleRock Communities Acquires the Jones Company of Tennessee
Daiwa House: CastleRock Communities LLC Acquires the Single-Family Residential Business of The Jones Company of Tennessee, LLC

Holderness Supplies is a leading truss manufacturer and wood products distributor serving single-family, multifamily and commercial customers across Arizona and in surrounding states
From its 11-acre facility in Tucson, the Company invested in the latest equipment and recruited a young, entrepreneurial team to become a leader in complex truss manufacturing
Privately owned by its President and other executives, Holderness was seeking liquidity for retiring shareholders and a new partner to support the active management team
Mandate: Sell-side advisor
Led a comprehensive sell-side M&A process, with careful investment positioning highlighted in a crisp investor presentation
Contacted a diverse group of potential buyers, including strategic buyers, private equity investors, overseas strategics, and public builders
Crafted a flexible process to help navigate turbulent macroeconomic conditions
Carefully guided the management team through close, including due diligence coordination and negotiation of the definitive agreements
In December 2023, US LBM Holdings acquired 100% of Holderness Supplies
HBS Dealer: US LBM Acquires Truss Producer Holderness Supplies
Cision PR Newswire: US LBM Acquires Arizona Truss Manufacturer Holderness Supplies