mynth
← DATABASE
08/2026100%

Beazer Homes acquired by Dream Finders Homes

UNITED STATES Real Estate Services / Development / Residential Dev EV $1–10bn

Context

In August 2026, NYSE-listed homebuilder Dream Finders Homes, Inc. (NYSE: DFH) entered into a definitive merger agreement to acquire 100% of the common stock of Beazer Homes USA, Inc. (NYSE: BZH) in an all-cash corporate transaction, creating the sixth-largest homebuilder in the United States. Under the approved terms of the agreement, Beazer Homes shareholders will receive $33.50 per share in cash, representing an equity consideration of approximately $916 million and an implied price-to-book multiple of 0.8x. The definitive transaction followed bilateral price discovery initiated in May 2026, when Beazer Homes' board rejected an unsolicited initial proposal of $25.75 per share (an implied equity value of roughly $704 million). The transaction is funded through a combination of balance-sheet cash reserves and committed debt underwriting facilities arranged by Goldman Sachs, Bank of America, and investment affiliates of Kennedy Lewis Investment Management. Led by Dream Finders Executive Co-Chairmen Patrick Zalupski and Rick Beckwitt, the strategic rationale scales the combined operational platform to approximately 520 active selling communities across 26 high-growth metropolitan statistical areas (MSAs), predominantly across the Sunbelt and Southeast corridors. The integration thesis targets in excess of $100 million in pre-tax annual run-rate operational and overhead synergies, driven by consolidated direct materials purchasing, scale efficiencies in trade contractor allocation, corporate SG&A rationalization, and enhanced attach rates across captive title insurance and mortgage banking platforms.

Beazer Homes, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

Target

Beazer Homes USA, Inc. is an American homebuilder headquartered in Atlanta, Georgia, coordinating residential land development, personalized home construction, and homebuyer financing operations. Listed on the New York Stock Exchange under the ticker BZH, the residential construction company builds and markets energy-efficient residential communities across 15 metropolitan markets distributed across 13 states. The corporate operating structure directs its residential construction activities across major regional clusters, maintaining operations throughout the Southeast, Mid-Atlantic, Texas, the West, and the Midwest. Through its proprietary Mortgage Choice platform, the residential development group partners with multiple qualified lending institutions to structure localized mortgage financing programs tailored for retail home purchasers. Under the executive governance of Chairman, President, and Chief Executive Officer Allan P. Merrill, the enterprise crafts single-family properties.

Ent. Value

$1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
$1–10bn
$100–200M
[members only]
2024
$1–10bn
$100–200M
[members only]

Similar deals in Real Estate Services

Similar deals in Real Estate Services
DateAcquirerTargetCountrySector
06/2026IMPLENIAZIGMO ENGINEERINGGERMANYArchitecture & Engineering
06/2026BRIGHTSTAR CAPITAL PARTNERSERDMANUNITED STATESArchitecture & Engineering
06/2026FAIRFAX FINANCIALKENNEDY WILSONUNITED STATESProperty Management
05/2026BROOKFIELD / GICNATIONAL STORAGEAUSTRALIAProperty Management
05/2026OCÉAN PARTICIPATIONSGROUPE SPATIOFRANCEArchitecture & Engineering
03/2026PUBLIC STORAGENATIONAL STORAGE AFFILIATESUNITED STATESProperty Management
03/2026ROYAL BAM GROUPGEBROEDERS BLOKLANDNETHERLANDSResidential Dev
01/2026TRITON PARTNERSFORMICONGERMANYArchitecture & Engineering
11/2025HORIZON CAPITALLANPROUNITED KINGDOMArchitecture & Engineering
08/2024CVC / FIDELIOODEVOSWEDENProperty Management

REFERENCES

Valuation range: EV $1–10bn

Revenue range: $1–10bn

EBITDA range: $100–200M

EV/Revenue range: below 1.5x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Beazer Homes by Dream Finders Homes are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: beazer homes

FAQ

What transaction does this page cover?

This page covers Dream Finders Homes’s acquisition of 100% of Beazer Homes, an American company specialised in Development, in 2026.

How was the acquisition of Beazer Homes by Dream Finders Homes valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $1–10bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Beazer Homes’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Beazer Homes generated annual revenue estimated in the $1–10bn range and EBITDA in the $100–200M bracket (FY 2025). Detailed financial figures are available to members.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.