TRI Pointe Group (NYSE: TPH), Irvine, California, on Monday said it promoted Mike McMillen to vice president of mergers and acquisitions, a new role that will support to Group’s Next10 Strategy, a strategic plan to be carried out over the next decade that emphasizes organic growth, acquisitions and the launch of ancillary businesses.
“Having worked with president and COO Tom Mitchell and myself for over 25 years, Mike brings an extensive knowledge of TRI Pointe’s strategy, culture and operations to this new role during an important window of opportunity for the company,” said TRI Pointe Group CEO Doug Bauer. “He knows that for our continued expansion to be successful and sustainable, the company must look for customer-driven, best-in-class local firms with strong leadership teams and the same values, mission and vision that define TRI Pointe Group.”
In his new role, McMillen will seek out merger and acquisition opportunities to expand TRI Pointe Group’s footprint in the Southeast and Northwest and grow market share in established markets such as Sacramento, Denver, Austin and the Carolinas. The company believes that its balance sheet and liquidity provide financial strength to continue pursuing long-term strategic growth initiatives through a combination of market share gains within existing operations and expansion into new markets, all while striving for operational excellence in every facet of the business.
“The opportunity ahead and the great team and resources backing us make this a very special moment, one I’m very glad to be a part of,” said McMillen. “Acquiring a new company starts with accessing new markets, assessing quality land positions, and ensuring there’s a strong management and cultural fit with TRI Pointe Group. The investments we make today will be important in creating a more diverse and profitable business in the coming years.”
“The launch of new divisions in Sacramento and the Carolinas and the acquisition of Dunhill Homes and Nathan Carlisle, now operating under our Trendmaker brand in Dallas—Fort Worth, made 2018 an important year for TRI Pointe Group and demonstrated our commitment to continued geographic diversity and opportunistic growth,” said Bauer. “Leveraging the ‘best of big and small’ approach with the thought leadership, scale and resources of TRI Pointe Group, combined with the nimble local expertise and relationships of our regional home builders, is integral to our strategy.”
