Dallas-based homebuilder Landsea Homes Corporation is set to go private in a deal valued at over $1 billion.
Two years ago, Landsea Homes, which trades on the Nasdaq under the ticker LSEA, announced it was moving its headquarters from Newport Beach, California, to Dallas. Now, California-based New Home Co. is acquiring the homebuilder in a roughly $1.2 billion cash deal.
A May 12 press release states that New Home will purchase Landsea for $11.30 per share in the all-cash transaction, an over 60% premium on its May 12, 2025, closing share price. Once finalized, the new combined private entity will be a “top-25 national homebuilder across 10 high-growth markets.”
“Our acquisition of Landsea Homes is an important next step in New Home’s long-term growth strategy,” Matthew Zaist, president and chief executive officer of New Home, said in the press release.
“By bringing together two highly complementary businesses and teams with shared customer-first values, we will further scale our platform nationally and help even more buyers realize the dream of homeownership. I look forward to continuing to partner with the talented employees from both organizations and Apollo in this next chapter.”
John Ho, chief executive officer of Landsea Homes, says he expects the transaction to provide “immediate cash value” to shareholders.
“We are proud of our team and the progress we’ve made in transforming Landsea Homes over the last few years, and we are excited about our future with New Home.”
Peter Sineksky, partner at Apollo and a member of New Home’s Board of Directors, says the deal highlights New Home’s conviction in the housing market.
“Both companies are on attractive growth trajectories individually, which will be further accelerated and augmented by this combination. We believe the companies’ shared vision as well as cultural and operational alignment is a winning formula for success, and we are pleased to continue supporting the business with Apollo’s considerable resources behind it.”