CENTERVILLE — Henry Walker Homes of Centerville has been sold to Oakwood Homes of Denver, Colo.
Henry Walker Homes was seeking a new capital partner with a similar organizational culture, a press release from Oakwood Homes said.
Oakwood Homes founder and CEO Pat Hamill made the announcement. That builder is reportedly Colorado’s largest private home builder. It purchased Henry Walker Homes for nearly $75 million, the release said.
Henry Walker Homes currently operates in Northern and Southern Utah and Northern Colorado. Oakwood Homes is building in the Colorado Front Range, including the Denver metro area and Colorado Springs; Omaha, Neb., and Northern Utah.
Henry Walker Homes’ operations in Southern Utah and Colorado will resume under a different name.
“When presented with the opportunity to acquire Henry Walker Homes we were immediately intrigued,” Hamill said. “This allows us to leverage our strong capital foundation and our efficient building practices towards our vision of being the best home builder in America.”
John Stubbs, current Henry Walker Homes president, will become president of Oakwood’s Utah Division. Mike Stewart will lead the integration team. Over the next year, Jason Chisholm will be vice president of operations and James Doolin will be vice president of land acquisition.
Oakwood has set a goal of closing more than 1,100 homes this year. If that is achieved, it would make the firm the 33rd largest home builder in the country and third largest in the Midwest.
Henry Walker Homes has 78 employees and Oakwood employs 151 people. The majority of associates are expected to remain in their current roles.