United Homes Group Announces Acquisition of Rosewood Communities

Rhea-AI Summary

United Homes Group, Inc. has acquired Rosewood Communities, a home builder in South Carolina. The acquisition will allow UHG to expand its footprint in the growing Upstate area and diversify its product offering. UHG plans to use Rosewood's innovative home designs in other markets as well. Prices for Rosewood's homes range from $450,000 to over $1,000,000.

Positive

• United Homes Group, Inc. has acquired Rosewood Communities, allowing them to expand in the growing Upstate area
• The acquisition will diversify UHG's product offering and allow them to use Rosewood's innovative home designs in other markets

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• None.

COLUMBIA, S.C.--(BUSINESS WIRE)-- United Homes Group, Inc. (“UHG”) (NASDAQ: UHG), a leading homebuilder in the Southeast, today announced that it has acquired Rosewood Communities, a home builder in the Upstate region of South Carolina. Rosewood Communities builds homes primarily in the rapidly growing Greenville and Clemson markets.

“Acquiring Rosewood Communities is a great opportunity to expand our existing footprint in the Upstate area,” said UHG Chief Executive Officer Michael Nieri. “With a world-class university in Clemson and a booming industrial base in Greenville with employers like BMW, Upstate South Carolina is a fast growing, attractive new home market. Rosewood’s innovative home designs will also allow us to diversify our product offering in the Upstate, and we plan on using their designs in our other markets.”

Mark Nyblom, former owner of Rosewood Communities, will stay on as Division Manager - Rosewood. Originally from Finland, Nyblom came to the United States in 1994 and formed Rosewood Communities in 1998. Rosewood Communities primarily operated as a developer until 2008, when the company initiated its concept of low-maintenance cottage-style communities. “I am very pleased to become part of the UHG team. The UHG story is inspiring, and I believe that Rosewood Communities will bring a lot to the table as a member of the family. The combination of the UHG land-light business model and focus on the Southeast is very promising, and my team and I are very excited about the future.”

“The acquisition of Rosewood Communities is consistent with the strategic vision we announced when we became a public company,” said Jack Micenko, President of UHG. “We plan to continue deploying capital into thoughtfully chosen acquisitions of private builders. The Rosewood transaction follows our entrance into the Raleigh, NC, market in August of this year. We will continue to focus on growth via both entry into new markets and adding builders that allow us to offer a more diversified product set.”

Inclusive of the Rosewood communities, UHG will operate 19 communities in the Upstate South Carolina market with plans to expand further. Prices on Rosewood Communities’ unique cottage-style homes range from $450,000 to over $1,000,000. Targeted to empty nesters and move-up buyers, the homes offer master-on-main and loft designs with appealing architecture and custom finishes.

More information is available at www.rosewoodcommunities.com.

About United Homes Group, Inc.

UHG is a publicly traded residential builder headquartered in Columbia, SC. The company currently operates and builds new home communities located in South Carolina, North Carolina and Georgia. UHG has been recognized as one of the top 50 builders by Builder magazine.

Forward-Looking Statements

Certain statements contained in this release, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “seek,” “continue,” or other similar words.

Any such forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate, and beliefs of, and assumptions made by, our management and involve uncertainties that could significantly affect our financial results. Such statements include, but are not limited to, statements about our future financial performance, strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and are not intended to be a guarantee of our performance in future periods. We cannot guarantee the accuracy of any such forward-looking statements contained in this release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

For further information regarding risks and uncertainties associated with our business, and important factors that could cause our actual results to vary materially from those expressed or implied in such forward-looking statements, please refer to the factors listed and described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the “Risk Factors” sections of the documents we file from time to time with the U.S. Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K and our quarterly reports on Form 10-Q, copies of which may be obtained from our website at https://ir.unitedhomesgroup.com/financials/sec-filings/default.aspx.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025890472/en/

Investor Relations Contact:

Drew Mackintosh

drew@mackintoshir.com

Mobile: 310-924-9036

Media Contact:

Allen Hutto

allenhutto@greatsouthernhomes.com

Mobile: 803-665-2764

Source: United Homes Group, Inc.

FAQ

What is the significance of United Homes Group acquiring Rosewood Communities?

The acquisition allows UHG to expand in the growing Upstate area and diversify its product offering.

What are the prices for Rosewood Communities' homes?

Prices range from $450,000 to over $1,000,000.

Will Rosewood's designs be used in other markets?

Yes, UHG plans to use Rosewood's innovative home designs in other markets.