Atlanta-based Grand Oak Builders LLC acquired Overland Park, Kan., homebuilder Lambie Custom Homes Inc.
The acquisition is the first by Grand Oak, a holding company formed to acquire and manage small builders across the U.S. The new company will operate as Lambie Grand LLC and do business as Lambie Homes. It will be managed Jim Lambie, a 44-year veteran homebuilder in the Kansas City region.
The acquisition includes a five-year lot supply and exposure to residential development, home construction and some commercial development activity, Grand Oak said in a press release. Lambie Homes is set to break ground on a 176-unit duplex community this month. Additional projects are in the works and will be announced in coming months.
“We are really pleased to partner with Jim Lambie and his team,” Grand Oak President and CEO Dave Erickson said in the release. “The Lambie team is looking forward to building upon the distinctive Jim Lambie name and history in the Kansas City region, and we’re excited about the prospect of expanding both the variety and increased volume of homes, which Lambie Homes can deliver to homebuyers throughout the Kansas City region.”
In explaining his decision to sell, Lambie said, “The opportunity for company growth and the chance to transition the company while retaining all my current employees and providing a great work environment for them was important to me. It really came down to future stability.”
Apex Business Advisors in Kansas City represented Lambie Custom Homes.