Monarch Group to Move Forward with New Ownership

The Monarch Group – one of the top new home builders in Ontario – are under new ownership

According to top company officials, Taylor Morrison and The Monarch Group, one of the top ten North American homebuilders, has been sold to a private investment consortium for $955 million dollars,. 

Talyor Wimpey PLC., the corporation behind both The Monarch Group and Taylor Morrison, has announced that it has agreed to sell its North American holdings to investment funds managed by TPG Capital, Oaktree Capital Management and JH Investments. 

“We see this as a positive sign for the future of our business,” said Taylor Morrison CEO and President Sheryl Palmer. “The commitment and tenacity of  our team has helped pave the road for today’s announcement.”

"We are pleased to add Taylor Morrison to our growing portfolio of real estate  related businesses," said Kelvin Davis, TPG senior partner. "Along with Monarch, its Canadian business, Taylor Morrison is a premier North American homebuilder with a reputation for quality, superior design and customer satisfaction. We’re looking forward to working with the company's management team who has done an excellent job leading the businesses through a difficult economic environment."

John Brady, head of Oaktree’s global real estate investment strategy, added, "We're excited about the opportunity to acquire this leading North American homebuilder along with its high-quality management team and portfolio of properties. We believe that the company’s international platform is an ideal vehicle for participating in the future recovery of the homebuilding industry."

“We have been very intrigued with Taylor Morrison and Monarch for quite some time, and we are looking forward to being associated with this first class organization,” said Joe Houssian, Chairman, JH Investments.

The transaction is conditional upon shareholder approval in the United Kingdom as well as regulatory approvals. Assuming there are no issues with either, the transaction is expected to close by the end of May 2011.

For more information on The Monarch Group, click here

For more information on Taylor Morrison, click here.