Tri Pointe Homes Celebrates 10-Year Anniversary of IPO
Since going public in 2013, Tri Pointe Homes has closed a $2.8 billion merger, rebranded and expanded and eclipsed $4 billion in annual revenue.
Tri Pointe Homes® (NYSE: TPH), one of the largest homebuilders in the U.S., is proud to celebrate the 10-year anniversary of its IPO. At the time, the first builder to go public in nearly a decade, the company delivered 144 homes and generated $77.5 million of home sales revenue in 2012. In 2022, Tri Pointe Homes generated a record $4.3 billion in home sales revenue by delivering 6,063 homes across 10 states. The company achieved this milestone through proven leadership, an opportunistic acquisition strategy, and the design of innovative homes and communities reflecting its premium lifestyle brand positioning.
“Tri Pointe Homes was launched as a small regional homebuilder in 2009 during a recession by three executives with extensive homebuilding relationships and experience, who wanted to bring a different outlook and vision to an industry undergoing transformation,” said Doug Bauer, Chief Executive Office of Tri Pointe Homes. “We have continued to expand year-over-year through strategic mergers and acquisitions, organic growth, geographic expansion, and optimizing its 15 operating divisions. Fourteen years later, with our strong balance sheet, focus on stockholder returns, strong land positions and improved operational efficiencies, I am confident we will continue to grow in the years ahead.”
Tri Pointe Homes went public in 2013, just four years after its founding. A year later, in 2014, the company completed a $2.8 billion merger with Weyerhaeuser Real Estate Company (WRECO) in one of the largest deals in homebuilding industry history, giving Tri Pointe Homes a national footprint and transforming it into one of the largest homebuilders in the country. The transaction added five respected regional homebuilding brands to Tri Pointe Homes’ portfolio, each with deep ties to the communities they served. For six years following the merger, Tri Pointe Homes used the multiple brand approach it inherited from WRECO across the country.
Singular Identity and Strength in Numbers
Tri Pointe Homes’ strategic decision to operate as one unified brand beginning in early 2021 was made in response to the company’s rapid growth, both organically and through acquisition. Along with creating a stronger national awareness for the company, consolidating its six regional brands and operating as Tri Pointe Homes in all of its markets has allowed the company to operate more efficiently and make investments in areas that have fueled the growth path of the company across its divisions. This includes becoming a technology-driven company and implementing programs that have increased operational efficiencies and improved the customer experience.
Just this year alone, we anticipate an approximately 30 percent growth in our community count and we will continue to look for opportunities for strategic growth and product diversification.” – Tom Mitchell, President and Chief Operating Officer, Tri Pointe Homes
Expansion Through Product Diversification
Tri Pointe Homes’ focus on strategic expansion in response to market demands led to the 2021 launch of Altis™, the official lifestyle brand for all of the company’s 55+ age-qualified communities nationwide. The active-adult brand has allowed Tri Pointe Homes to build on its premium brand recognition across different kinds of new home developments.
In addition to the growing demand from the baby boomer generation looking to downsize, Millennials are a significant portion of today’s homebuyers and represent over 50% of Tri Pointe Homes’ homebuyers. In response to these demographic factors and the current demand for more affordable homes, Tri Pointe has expanded its product offerings with innovatively designed entry-level and first move-up homes in locations that are close to job centers, transportation and amenities.
Tri Pointe Homes has always maintained a passion for and commitment to leading-edge design that supports both homebuyers’ living environments and lifestyles, which it pursues through LivingSmart®, a constantly evolving, comprehensive program involving the development, design, construction, and ongoing operation of high-performing homes. LivingSmart® encompasses the latest in energy-saving features, materials, and equipment that help improve indoor air quality, smart technology, and systems to help conserve water and natural resources, and create a better environment for homebuyers.
In 2022, the company also launched its LiveAbility™ program to deliver homes that naturally adapt to life’s changing needs while promoting greater maneuverability, comfort, and style for all. The new emphasis optimizes day-to-day living to make a premium lifestyle possible for its homebuyers, whatever their life stage.
“The past 10 years have been exciting and productive for Tri Pointe as we have grown rapidly through both geographic expansion and product diversification,” said Tom Mitchell, President and Chief Operating Officer. “As we look forward to the next 10 years, we continue to be extremely positive on the outlook for housing due to the lack of supply and favorable buyer demographics. Just this year alone, we anticipate an approximately 30 percent growth in our community count and we will continue to look for opportunities for strategic growth and product diversification.”
“I believe the core strengths and values we founded the company with, along with the decisions and operational strategies we employ, and our continued focus on returns, have positioned Tri Pointe Homes to grow and capitalize on the long term, positive outlook for housing,” said Mitchell.
For more information, please visit www.tripointehomes.com.
About Tri Pointe Homes®
One of the largest homebuilders in the U.S., Tri Pointe Homes, Inc. (NYSE: TPH) is a publicly traded company and a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities in 10 states, with deep ties to the communities it serves—some for as long as a century. Tri Pointe Homes combines the financial resources, technology platforms and proven leadership of a national organization with the regional insights, longstanding community connections and agility of empowered local teams. Tri Pointe has won multiple Builder of the Year awards, most recently in 2019. The company made Fortune magazine’s 2017 100 Fastest-Growing Companies list, was named as a Great Place to Work-Certified™ company in both 2021 and 2022 and was named on several Great Place to Work® Best Workplaces lists in 2022. For more information, please visit TriPointeHomes.com.