Arlington, VA – Bean, Kinney & Korman recently represented Keystone Custom Homes (https://www.keystonecustomhome.com/) in its strategic partnership with Southern Development Homes (https://southern-development.com/), a leading residential homebuilder in the greater Charlottesville area. The transaction facilitates Keystone’s strategic expansion into Virginia, further strengthening its Mid-Atlantic stronghold as a top 100 homebuilder nationally with over $430M in annual revenue. Tony Avila of Builder Advisory Group served as the exclusive broker-advisor to Keystone and facilitated the transaction. See the full press release here: https://www.prnewswire.com/news-releases/keystone-custom-homes-expands-into-virginia-through-strategic-partnership-with-southern-development-homes-united-by-profit-for-purpose-302446631.html.
More than just a great business partnership, this joining of two leaders in the residential homebuilding market was also built upon a shared vision and purpose for meaningful impact upon the community. Keystone Custom Homes is 90% owned by charity, partnering with organizations like HOPE International (https://www.hopeinternational.org/) and Homes for Hope (https://homes4hope.org/) to direct critical resources to entrepreneurs, organizations and others in underserved communities with the goal of ending the cycle of poverty. Frank Ballif, the former CEO of Southern Development Homes and now President of Keystone’s Virginia homebuilding division, joined in this mission and ensured that future profits would continue to be directed to these causes and also to local Charlottesville charitable organizations.
BKK’s transaction team was led by Zack Andrews, with assistance from Blake Frieman, Andrew Gregg, and Uri Pasternak. Said Jeff Rutt, CEO of Keystone Custom Homes: “Zack Andrews of Bean, Kinney & Korman was instrumental in guiding us through the complex acquisition of Southern Development Homes, a Virginia-based building company. He and his team worked tirelessly around the clock over the past few months, meeting tight deadlines with exceptional responsiveness, legal precision, and a relational approach that kept all parties aligned.”
Bean, Kinney & Korman’s M&A practice group is a leader in middle market M&A transactions in the Washington, D.C. metropolitan area and across the country, representing buyers, sellers, lenders, and private equity groups in acquisitions, dispositions, capital raises and other strategic business transactions.