RESTON, Va., Feb. 11, 2013 /PRNewswire/ --Stanley Martin Homes, one of the largest homebuilders in the Washington, D.C. market and Piedmont Realty & Construction, one of the largest homebuilders in the Charlottesville, VA market, today announced a definitive merger agreement of the two companies. The merger is part of Stanley Martin's growth plan to complement its five consecutive years of increased new home sales.
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Steven Alloy, President of Stanley Martin Homes remarked: "The combination of Piedmont's location and its similar business philosophy made it an ideal situation to join forces. Piedmont is committed to the same core values as Stanley Martin and has an unwavering passion for delivering the highest quality new homes and the best customer experience in the industry. We are thrilled to welcome Piedmont and its employees to the Stanley Martin family."
Drew Holzwarth, President of Piedmont Realty & Construction said: "We are excited to be merging with Stanley Martin Homes. We have complementary product design and a similar commitment to taking care of our customers. The merger provides us with the systems and financial resources to expand our product selection and geographic reach, and we are looking forward to continuing the success we have achieved in the market."
Over the next several months, Piedmont Realty & Construction will be integrated into the Stanley Martin Homes' operational and accounting systems. Drew Holzwarth will join the Stanley Martin Leadership Team and oversee all development, construction and sales in the southern region of Virginia. For the near term, the two companies will conduct business under their respective brand names.
Stanley Martin Homes and Piedmont Realty & Construction focus on building well-appointed single family homes and townhomes, with current offerings from $199,500 to $1,600,000. Both companies pride themselves on understanding the unique wants and needs of homebuyers - from detail oriented architectural plans to creative land development designed to enhance curb appeal.
Headquartered in Reston, Virginia, Stanley Martin Homes is one of the Washington, D.C. area's most recognized names in new home construction and development -- with more than 10,000 families living in its communities throughout Virginia, Maryland and Washington, D.C. Founded in 1966, Stanley Martin is a member of the Builder 100 and is most recognized for its appealing architectural designs, outstanding quality, and commitment to its customers. For more information about Stanley Martin Homes, visit www.stanleymartin.com or follow on Facebook and Twitter.
Media Contact: | Lauri Chastain, Vice President of Marketing, Stanley Martin Homes |
703.964.5108, chastainLD@stanleymartin.com |
SOURCE Stanley Martin Homes
