Houston-based Perry Homes announced Dec. 3 it acquired Jacksonville-based MasterCraft Builder Group, marking the homebuilders’ continued expansion in Florida.
Perry Homes is one of the largest privately held homebuilders in the U.S., according to a news release.
Terms of the deal were not disclosed.
“This partnership accelerates our growth in Florida while honoring MasterCraft Builder Group’s reputation,” Todd Chachere, CEO of Perry Homes, said in the release.
Chris Shee founded MasterCraftBuilder Group in 2011 and has managed it with his brother, Brad Shee.
“Selling MasterCraft Builder Group was a deeply personal decision,” Chris Shee, MasterCraft owner and CEO, said in the release. “My brother, Brad, and I have built this company alongside an incredible team, and finding a partner who shares our values was essential. Perry Homes embodies the same commitment to quality, design, and exceptional customer care that defines MasterCraft.”
Builder Advisor Group LLC served as exclusive financial advisor for MasterCraft Builder Group.
MasterCraft Builder won the Northeast Florida Builders Association Builder of the Year award in 2012, 2021 and 2022.
Perry Homes announced its entrance into the Florida residential construction market in February.
It marked as the company’s first expansion outside of Texas in its 57-year history. The homebuilder planned to focus on the Tampa, Orlando, Southwest Florida and Jacksonville areas, according to the February news release.
It said it would break ground in spring 2024 in Southern Hills in Brooksville, just north of Tampa, and will begin building in Berry Bay in Hillsborough County in mid-2025.
Perry Homes is the largest woman-owned homebuilder in the nation, the Dec. 3 release said. It is led by Kathy Perry Britton, owner and executive chair. Her father, Bob Perry, founded the company. It is building in more than 120 communities in Austin, Dallas-Fort Worth, Houston and San Antonio in Texas as well as in Florida.
According to Forbes.com, it will have $2.4 billion in revenue in 2024.