Smith Douglas Homes

  • On January 10, 2024 Smith Douglas Homes successfully priced its $162mm IPO at $21.00 per share, the high end of its filing range ($18.00 – $21.00)
    • Represented a market capitalization of $1.1bn and implied a valuation of 3.4x price / pro-forma 2023 tangible book value
  • Critical transaction supporting on-going expansion of one the fastest growing builders in the U.S.
    • Focused on entry-level markets (ASPs of ~$340k) in high-growth Coastal Atlantic and Central U.S. states including AL, GA, NC, TN and TX
  • With +95% of lots optioned (excluding WIP lots) as of September 30, 2023 the Company operates a land-light, production focused business model
    • “Rteam” production process delivers highly efficient operations including more than 2,200 closings in the LTM period prior to the transaction
  • Vestra provided advice to the Board of Directors and family owners throughout the transaction preparation and execution process