Davis Homes Acquired by Defy Investments
Whelan Advisory served as the exclusive financial advisor to Davis Homes, one of Indiana’s largest privately-held homebuilders, in its sale to Defy Investments. Defy Investments, part of Rival Holdings, is focused on acquiring and growing commercial and residential construction companies.
This transaction further strengthens Whelan Advisory’s homebuilder sector expertise and extensive track record working for owners and founders of privately-owned companies. Our team has advised on 41 successful transactions since 2018, totaling $14.2 billion across M&A, debt, and equity.
“Having discussed financing options with Whelan Advisory two years prior, we were delighted when they identified an excellent partner for our firm. Margaret Whelan and Currey Cornelius were highly professional in our engagement with them, expertly supporting us at each step from start to finish. We could not be more excited about the partnership with Defy, as it will make a significant positive impact on our Company, our employees and all constituents for many years in the future.”
“This is our second successful closing representing an Indianapolis-based homebuilder in the past twelve months. The Davis Companies have built over 25,000 homes throughout Indiana, and Brad Davis and Don Chesney are highly regarded throughout the market. We’ve known the Defy team for several years and knew the fit with Davis Homes would be strong. We could not be more pleased with this successful result from our ‘rifle-shot’ process.”
“Demand to acquire homebuilders is at an all-time high, as a wide range of buyers are bidding on each opportunity. With plenty of dry powder, family offices and private equity firms are reemerging. They are attracted by the tailwinds associated with the long-term supply/demand imbalance for single family housing, both in the for-sale and build-to-rent segments.
This is our second builder sale to close in January, and we are grateful to have a robust pipeline to execute this year. As rising valuation multiples bring sellers to the table, we expect a mix of small and mid-sized strategic deals as bolt-on opportunities, along with some transformative acquisitions by the larger buyers who aim to gain scale.”
Transaction led by:
Margaret Whelan
Founder & CEO
Currey Cornelius
Managing Director
Luke Klee
Vice President
