Oaktree-backed Western US homebuilder Woodside Homes files for a $200 million IPO


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Woodside Homes, a single-family homebuilder primarily in California and other western states, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering. Woodside had previously been the country's largest private homebuilder and with a national presence the company booked over $1.4 billion in sales in 2005. Because of the US housing crisis, it was forced into bankruptcy in 2008 and reorganized as a regional homebuilder focused on California (41% of lots), Phoenix (18%), Las Vegas (17%), Salt Lake City (17%) and San Antonio (7%). In 2012, it received a $203 million equity investment from Oaktree Capital Management ( OAK ) and Stonehill Capital Management.

The North Salt Lake City, UT-based company, which was founded in 1977 and booked $459 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol WDS. Woodside Homes initially filed confidentially on March 18, 2014. Credit Suisse, J.P. Morgan and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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