Toll Brothers acquires StoryBook Homes in Las Vegas
Toll Brothers — No. 11 on the 2021 Builder 100 – announced it has acquired StoryBook Homes, a private Las Vegas-based home builder. Terms were not disclosed, but the acquisition strengthens Toll Brothers’ market position and adds to the 16 luxury residential communities the company is building in the Las Vegas area.
Founded in 2003 by Wayne and Catherine Laska, StoryBook Homes has built over 1,700 homes in Las Vegas since its inception. The business primarily serves first-time home buyers and senior home buyers with prices ranging from $ 200,000 to over $ 600,000. StoryBook Homes has five active selling communities and owns or controls over 550 lots in the marketplace.
“This acquisition presents an exciting opportunity to quickly add to our already rapidly growing Las Vegas operations, while further diversifying our new home offerings and pricing in the market,” said Gary Mayo, president of the Toll Brothers group at Nevada. “StoryBook Homes is a quality home builder with an excellent reputation, a talented team, excellent gross margins and a solid land position. We look forward to adding value to their operations and leveraging the local experience of their team.
The founders of the company and all of their employees will remain with the company and continue to operate communities of new homes under the StoryBook Homes brand. Janet Love, current President of StoryBook Homes, will assume the role of Division President of StoryBook Homes as a division of Toll Brothers.
“We are thrilled to be part of the amazing Toll Brothers team in Las Vegas,” says Wayne Laska. “Toll Brothers is a company and brand that is second to none in the residential construction industry, with the scale, expertise and financial strength to take our operations to the next level. Additionally, as a business that was also founded as a family business, I know the culture of Toll Brothers will suit the people and clients of StoryBook Homes perfectly.
Including the acquisition of StoryBook Homes, Toll Brothers has made 14 homebuilder acquisitions since 1995.
David Rosen of Long Grove Capital acted as an advisor to StoryBook Homes.