M&A · Industrials · Operative Builders
Dream Finders Homes, Inc. to acquire Beazer Homes USA Inc
Announced Aug 7, 2026 · Closed Oct 20, 2026
Deal value$2.20BEV $2.20B
Premium78.5%To unaffected price
EV / Adj. EBITDA—1.1x EV / Revenue
ConsiderationAll cash$33.50 per share
Transaction
- Acquirer
- Dream Finders Homes, Inc. (DFH)
- Target
- Beazer Homes USA Inc (BZH)
- Buyer type
- Strategic
- Offer price per share
- $33.50
- Enterprise value
- $2.20B
- Status
- Closed Oct 20, 2026
Deal protections
- Break fee (target pays)
- $31.3M · 1.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Goldman Sachs, BofA Securities, Vestra Advisors
- To the target
- JPMorgan, Moelis
- Moelis fee
- $3.0M
Sector context · Industrials
- Comparable deals
- 96 in the prior 24 months
- Premium
- 78.5% vs. 36.0% sector median
- EV / Adj. EBITDA
- Sector median 11.4x
- Break fee
- 1.4% vs. 2.9% sector median
Timeline
- AnnouncedAug 7, 2026
- Proxy filedSep 3, 2026
- Definitive proxySep 15, 2026
- Shareholder voteOct 15, 2026
- ClosedOct 20, 2026
Valuation · fairness opinions
Trading comparablesJPMorgan$19.25$55.25
Other analysisJPMorgan$36.25$55.25
Other analysisJPMorgan$16.25$57.25
Discounted cash flowJPMorgan$28.00$48.25
Analyst price targetsJPMorgan$22.00$32.00
Discounted cash flowMoelis$27.05$47.87
Trading comparablesMoelis$19.15$38.30
Precedent transactionsMoelis$31.92$53.28
Analyst price targetsMoelis$16.75$30.00
52-week trading rangeMoelis$17.83$28.33
Offer $33.50
Implied value per Beazer Homes USA Inc share by analysis, from JPMorgan and Moelis · DCF discount rate 10%–11.5%.