The Firm is representing J.P. Morgan Securities LLC as financial advisor to Century Communities, Inc. (NYSE: CCS) in connection with its definitive agreement with UCP, Inc. (NYSE: UCP), pursuant to which Century Communities and UCP have agreed to merge in a cash and stock transaction with an aggregate value of $336 million, including the payment of certain indebtedness. At closing, UCP stockholders will receive for each share of UCP common stock they own $5.32 in cash and 0.2309 of a newly issued share of Century Communities common stock, and UCP’s stockholders will own approximately 16.4% of the combined company. The transaction is expected to close by the end of the third quarter of 2017, subject to customary closing conditions, including the adoption of the merger agreement by UCP’s stockholders.
Founded in 2002, Colorado-based Century Communities is a leading builder of single-family homes, townhomes and flats in select major metropolitan markets in Colorado, Georgia, Nevada, Texas, Utah and North Carolina and is engaged in all aspects of homebuilding, including the acquisition, entitlement and development of land and the construction, marketing and sale of homes. UCP is a homebuilder and land developer with expertise in residential land acquisition, development and entitlement, as well as home design, construction and sales and operates in the States of California, Washington, North Carolina, South Carolina and Tennessee.
The Simpson Thacher team includes Rob Spatt and Jihyun Chung (M&A).