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IRVINE, Calif., Sept. 03, 2019 (GLOBE NEWSWIRE) -- TRI Pointe Group (NYSE: TPH), one of the top 10 largest public homebuilders in the United States based on revenue, announced today the promotion of Mike McMillen as the company’s vice president of mergers and acquisitions. The new role will offer significant support to Group’s Next10 Strategy, a strategic plan to be carried out over the next decade that emphasizes organic growth, acquisitions and the launch of ancillary businesses.
“Having worked with president and COO Tom Mitchell and myself for over 25 years, Mike brings an extensive knowledge of TRI Pointe’s strategy, culture and operations to this new role during an important window of opportunity for the company,” said TRI Pointe Group CEO Doug Bauer. “He knows that for our continued expansion to be successful and sustainable, the company must look for customer-driven, best-in-class local firms with strong leadership teams and the same values, mission and vision that define TRI Pointe Group.”
In his new role, McMillen will seek out merger and acquisition opportunities to expand TRI Pointe Group’s footprint in the Southeast and Northwest and grow market share in established markets such as Sacramento, Denver, Austin and the Carolinas. The company believes that its balance sheet and liquidity provide financial strength to continue pursuing long-term strategic growth initiatives through a combination of market share gains within existing operations and expansion into new markets, all while striving for operational excellence in every facet of the business.
“The opportunity ahead and the great team and resources backing us make this a very special moment, one I’m very glad to be a part of,” said McMillen. “Acquiring a new company starts with accessing new markets, assessing quality land positions, and ensuring there’s a strong management and cultural fit with TRI Pointe Group. The investments we make today will be important in creating a more diverse and profitable business in the coming years.”
“The launch of new divisions in Sacramento and the Carolinas and the acquisition of Dunhill Homes and Nathan Carlisle, now operating under our Trendmaker brand in Dallas—Fort Worth, made 2018 an important year for TRI Pointe Group and demonstrated our commitment to continued geographic diversity and opportunistic growth,” said Bauer. “Leveraging the ‘best of big and small’ approach with the thought leadership, scale and resources of TRI Pointe Group, combined with the nimble local expertise and relationships of our regional homebuilders, is integral to our strategy.”
About TRI Pointe Group®
Headquartered in Irvine, California, TRI Pointe Group, Inc. (NYSE: TPH) is a family of premium, regional homebuilders that designs, builds, and sells homes in major U.S. markets. As one of the top 10 largest public homebuilding companies based on revenue in the United States, TRI Pointe Group combines the resources, operational sophistication, and leadership of a national organization with the regional insights, community ties, and agility of local homebuilders. The TRI Pointe Group family includes Maracay® in Arizona, Pardee Homes® in California and Nevada, Quadrant Homes® in Washington, Trendmaker® Homes in Texas, TRI Pointe Homes® in California, Colorado and North Carolina, and Winchester® Homes* in Maryland and Virginia. TRI Pointe Group was recognized in Fortune magazine’s 2017 100 Fastest-Growing Companies list, named 2015 Builder of the Year by Builder magazine, and 2014 Developer of the Year by Builder and Developer magazine. The company was also named one of the Best Places to Work in Orange County by the Orange County Business Journal in 2016, 2017, 2018 and 2019. For more information, please visit www.TriPointeGroup.com.
*Winchester is a registered trademark and is used with permission.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88545524-7fb5-42da-ae0c-82ab225c5174
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