Rockville, Maryland–based DRB Group, the multibrand platform that includes flagship Dan Ryan Builders, Elevate Homes, Fielding Homes, and DRB Coastal, announced it has signed a definitive agreement to acquire Knight Homes. The two companies expect to close the transaction in the fourth quarter of 2020.
Founded in 1978 by brothers Perry and Scott Knight, who started the company as framing contractors, Knight Homes is the second largest private builder and a top 10 builder overall in the Atlanta market, closing approximately 750 homes in 2020.
“This opportunity aligns with our vision of expanding further into the competitive Southeastern markets,” says Ronny Salameh, president and CEO of DRB Group. “It was clear that our companies share a family background as privately run home builders, core values about the treatment of our customers and employees, and similar cultural alignment. All in all, this is an incredible and exciting opportunity for both organizations to grow.”
The addition of Knight Homes to DRB as its new Atlanta division will expand DRB’s footprint to nine Mid-Atlantic states. Chris Knight, along with Jay Knight and Amanda Knight Statham, will continue to lead the Atlanta division, which will be rebranded over time as Dan Ryan Builders.
“We have been extremely impressed by everyone we’ve met at DRB and are excited and thankful to be joining the DRB team,” says Chris Knight. “This opportunity will allow us to continue fulfilling our mission of building an enduring legacy of integrity and value. We will not lose sight of the honor and responsibility we have to provide the place that people call home. DRB’s core values are our core values. We could not be more excited about the future.”
Jay Knight, who will serve as the vice president of land acquisition, agrees, “For the ongoing benefit of our customers and employees, the timing for partnering with DRB makes sense, and, much like us, they believe in building well-crafted homes and doing things the right way with a sense of urgency and passion.”
