Landsea Homes to acquire Antares Homes for $232.2M in cash

Landsea Homes announced that it has entered into a definitive agreement to acquire Antares Homes, a Dallas-Fort Worth based homebuilder. The transaction, once completed, will expand Landsea Homes’ presence in the Dallas/Fort Worth metropolitan area. Landsea Homes intends to purchase Antares Homes for $232.2M in cash, which includes repayment of an anticipated $47.2M of Antares Homes debt. The transaction is subject to customary working capital adjustments upon closing. Landsea Homes expects to fund the transaction with a combination of cash and borrowings under its revolving credit facility. The transaction has been unanimously approved by the Board of Directors for Landsea Homes, and is expected to close in early February of 2024, subject to the satisfaction of customary closing conditions. Upon closing of this transaction, Antares Homes employees are expected to become part of the Landsea Homes team.