Fischer Homes has announced its expansion into the St. Louis market through an agreement with local builder Payne Family Homes. The arrangement is scheduled to be complete May 1.
Privately held Fischer Homes—No. 33 on the 2021 Builder 100—has been in business since 1980 with over 30,000 homes built. The company has more than 150 new-home communities throughout Georgia, Indiana, Kentucky, and Ohio.
"We have been looking for the right opportunity for further expansion into the Midwest," says Bob Hawksley, CEO of Fischer Homes. "This agreement presents a robust growth opportunity for Fischer Homes as the St. Louis housing market is showing no signs of slowing down."
Founded in 2007 by David Payne, Payne Family Homes has built over 2,400 homes throughout the St. Louis area and is the region's second-largest home builder, according to the press release. They are currently building in 22 area communities in St. Charles, St. Louis, and northern Jefferson counties.
"This decision was certainly not an easy one, but we knew it would be a natural fit once we met the Fischer Homes team,” says Payne. “Their associates, like ours, are customer-driven and committed to providing high-quality homes and experiences."
Led by Ken Kruse, president at Payne Family Homes, the builder has grown exponentially and earned numerous awards, including a spot in the Top 25 Fastest Growing Companies in St. Louis and recently named the 2020 A-List Winner, Best Home Builder, by St. Louis Magazine. Kruse will continue to serve as market president of the St. Louis division for Fischer Homes. Builder Advisor Group served as the exclusive sell-side adviser to Payne Family Homes on the deal.
"We knew right away that becoming part of the Fischer family would be a win-win for the Payne Family Homes team and our customers,” says Kruse. “The companies work both hard and smart and have fostered genuinely strong relationships internally and externally, while still managing to have fun along the way."
Like Fischer Homes, Payne Family Homes is also a builder partner of the St. Jude Dream Home Giveaway, benefiting St. Jude Children's Research Hospital. Together they have raised over $20 million to help in the fight against childhood cancer.
"We are thrilled to be entering the St. Louis market," says Tim McMahon, president and chief operating officer of Fischer Homes. "But more importantly, we look forward to partnering with the tremendously talented team at Payne Family Homes. The alignment of each of our companies' cultures, visions, and values is unmatched."
*Fischer Homes is not affiliated with Fischer & Frichtel Homes of Chesterfield, Missouri.
