BUILDER Honors Taylor Morrison as Builder of the Year
No. 14 on BUILDER 100 list
WASHINGTON, D.C. (May 15, 2013) — BUILDER, the leading media brand in residential construction, honored Taylor Morrison with its Builder of the Year award last night at its Housing Leadership Summit in Scottsdale, Ariz. Presented annually during the BUILDER 100 awards dinner, the Builder of the Year is recognized for its excellence in successful business strategy, its achievements, and its corporate leadership.
Based in Scottsdale, Taylor Morrison is a land developer and builder of single-family detached and attached homes in the entry-level, move-up, luxury, active-adult categories. The company builds in the U.S. as Taylor Morrison and Darling Homes and in Canada as Monarch. In the U.S., Taylor Morrison builds in Arizona, California, Colorado, Florida, and Texas; Darling Homes builds in Texas. The company is No. 14 on the BUILDER 100.
The past two years have been eventful for Taylor Morrison. In July 2011 it was carved off from Taylor Wimpey, a British builder that wanted to consolidate its operations in the United Kingdom. It completed a $1.2 billion sale to private equity partners.
While other builders were contracting, Taylor Morrison purchased Texas-based Darling Homes. Taylor Morrison builds in Austin and Houston, and the Darling acquisition expands the builder’s reach into the Dallas market.
In April, Taylor Morrison raised $723 million in an initial public offering that was buoyed by record-low mortgage rates and rising sales prices. Becoming a publicly traded company gives Taylor Morrison access to capital for expansion private home builders such as Darling Homes lack.
In presenting the award, Jean Dimeo, BUILDER’s editor in chief, credited much of Taylor Morrison’s success to its president and CEO, Sheryl Palmer, and her team. When Palmer took the reins in 2007 of the firm formed by the merger of Taylor Woodrow and Morrison Homes, market conditions were terrible. Plus, she was the third CEO in 12 months, and the merged company, called Taylor Morrison, presented daunting challenges.
“Palmer and her expert team organized two companies into one unified staff working together efficiently and effectively,” said Dimeo. “Plus, they navigated a declining market, sale from a British company, a private equity purchase, and now a public offering.”
The Builder of the Year is chosen from the ranks of the BUILDER 100 list produced by BUILDER, which is featured in the May 2013 issue of BUILDER magazine and on builderonline.com. For more information, visit www.builderonline.com/builder100/2012.aspx.
Published by Hanley Wood, BUILDER is the leading brand in the residential construction industry and serves as the magazine of the National Association of Home Builders (NAHB). For more than three decades, BUILDER has provided essential news, information and resources about products, technologies, trends, regulatory requirements and best practices to help home building professionals innovate for success. With an integrated platform encompassing print, online and in-person, BUILDER is a trusted source for top builders, architects and other industry professionals across the country.
About Hanley Wood
Hanley Wood, LLC is the premier media, event, information and strategic marketing services company serving the residential, commercial design and construction industries. Through its operating platforms, the company produces award-winning digital and print publications, Newsletters, websites, marquee trade shows and events, market intelligence data and strategic marketing solutions. The company also is North America's leading publisher of home plans.