Colorado-based Century Communities Inc. has bought the remaining 50% of Wade Jurney Homes of Greensboro, N.C., according to Triad Business Journal’s Margaret Moffett. The acquisition makes Century one of the nation’s top 10 largest home builders with operations in 12 states.
According to Century, it is the fastest-growing public home builder in the country. WJH, which Wade Jurney Jr. founded in 2001, was the nation's fastest-growing private home builder in three of the last seven years. Last fall, Triad Business Journal recognized WJH as the Triad's fastest-growing company, with $170 million in revenue.
“The coming together of the fastest growing public and private U.S. builders was a logical next step for our partnership," said Rob Francescon, Century co-CEO and Dale's brother, in a statement.
In late 2016, the company bought a 50 percent share of WJH, which specializes in building affordable homes in North and South Carolina, Florida, Georgia and Alabama, with sales prices averaging $150,000. Jurney received $15 million from Century for a 50 percent share. Both parties provided $3 million for capital.Read More