IMAP Florida (Falls River Group) is pleased to announce the acquisition of a 70% equity interest in EDGEhomes by Sumitomo Forestry America. Falls River Group acted as the exclusive financial advisor to Sumitomo Forestry America in connection with the transaction.
Sumitomo Forestry America engaged Falls River Group to lead an acquisition and due diligence to ensure a thorough evaluation of EDGEhomes, acquire all of the interests held by the existing financial investors, and generate a long-term partnership relationship with the senior management team (who retain a 30% equity interest) constructed to maximize post-transaction value and operational continuity. The EDGEhomes transaction represents Sumitomo Forestry's fifth investment in a U.S. homebuilder.
About Sumitomo Forestry America, Inc.
Sumitomo Forestry America, Inc. ("SFA) is the wholly owned U.S. subsidiary of Sumitomo Forestry Co. Ltd. ("SFC"), a leading 325 year old wood products company established in 1691 and headquartered in Tokyo, Japan. SFC is engaged in a variety of wood-related business including "upstream" plantation and forestry businesses, "midstream" distribution and manufacturing businesses, and "downstream" housing related businesses in and outside of Japan. SFA's activities in the United States are focused on residential homebuilding in nine states and kitchen cabinet manufacturing in Washington. Their goal is to become a leading homebuilder in the U.S. constructing more than 5.000 houses per year.
Founded in 2008 as a local Utah homebuilder, EDGEhomes has grown to #54 on the 2016 Builder 100 list closing on 741 homes generating $239 million in revenue in 2015. EDGEhomes is engaged in both land development and construction of starter and move-up single-familym tiwnhome, and condominium housing in the Salt Lake City, Utah metropolitan area. Their unique focus on the home buyers experience, attractive designs, livable floor plans and creating communities in prime locations across the Wasatch front has turned EDGEhomes into a recognized leader and one of the fastest growing homebuiilders in the United States.