Century Communities, Inc. · NYSE:CCS
Century Communities — Merger or Acquisition (April 2017)
12 slides from Century Communities's merger presentation, Apr 11, 2017
Slide 1: Investor Presentation: Business combination with UCP, Inc.
Investor Presentation | APRIL 11, 2017 Business combination with UCP, Inc. Exhibit 99.1
Slide 2: Forward-looking statements
Certain statements in this Investor Presentation relating to the merger (the “Merger”) of UCP, Inc. (“UCP”) with and into Casa Acquisition Corp., a wholly-owned subsidiary of Century Communities, Inc. (the “Company”), may be regarded as "forward-looking statements" within the meaning of the Private
Slide 3: Transaction Overview
Transaction Overview This morning Century Communities (NYSE: CCS) and UCP, Inc. (NYSE: UCP) jointly announced a strategic business combination Purchase price composed of 0.2309 shares of CCS stock and $5.32 of cash for each share of UCP Implies $11.35 per share of UCP, based on CCS share price of $2
Slide 4: Transaction rationale – Century & UCP
Acquisition of large, high quality land portfolio at an attractive basis Provides entry into California and Pacific Northwest markets and expansion of Southeast presence, meaningfully increasing geographic footprint Wide range of product capabilities, including first-time through active adult Strong
Slide 5: Century Communities overview
Top-25 U.S. homebuilder(1) 14 consecutive years of profitability, since founding in 2002 Attractive land positions in 173 communities and 18,296 lots 8,663 owned / 9,633 controlled lots 89 open communities Strategically located in attractive major metropolitan markets with exceptional growth potenti
Slide 6: UCP, Inc. High Growth Market Focus
UCP, Inc. High Growth Market Focus Homebuilder and land developer focused on high growth markets Founded in 2004 by CEO Dustin Bogue Acquired by PICO Holdings (currently 57% owner) in 2008 to capitalize on dislocation in the housing market Attractive land position of 6,638 lots 4,075 owned / 2,563 c
Slide 7: Merger Creates a Leading Homebuilding Platform with Significant Scale
Merger Creates a Leading Homebuilding Platform with Significant Scale Color Scheme 177 118 48 160 160 160 177 154 48 177 66 47 48 147 176 104 60 146 Total Lots owned + controlled % optioned 18,296 53% 6,638 39% 24,934 49% 89 28 117 # of Open Communities $994 million 2,825(1) $349 million 820 $1,343
Slide 8: Century's Successful Track Record of Geographic and Product Expansion
Century’s Successful Track Record of Geographic and product expansion Colorado 2013 2014 2015 Acquisitions / Market Expansions 2002: Century founded Expansion into Fort Collins Acquisition of Jimmy Jacobs Homes for $16mm (Austin) Acquisition of: LVLH (Las Vegas) for $165mm GVB for $13mm (Houston) Pe
Slide 9: Strong and Growing Geographic Footprint in Attractive Markets
Color Scheme 177 118 48 160 160 160 177 154 48 177 66 47 48 147 176 104 60 146 Las Vegas, NV Colorado (Northern Colorado, Colorado Springs, Denver) Central Texas (Austin and San Antonio) Houston, TX Atlanta, GA Washington San Francisco Bay Area Central Valley Nashville, TN Charlotte/Raleigh, NC Myrt
Slide 10: Combination of Complementary Portfolios with High Quality Land Positions
Combination of Complementary Portfolios with High Quality Land Positions Pro forma total lots owned and controlled UCP Acquisition Pro forma total % of total State CCS Total Georgia 5,594 - 5,594 22% Texas 4,776 - 4,776 19% Colorado 4,164 - 4,164 17% Nevada 1,623 - 1,623 7% Utah 1,526 - 1,526 6% Nor
Slide 11: Strong Balance Sheet with Capacity to Execute Growth Strategy
Strong Balance sheet with Capacity to Execute Growth Strategy Transaction funded with combination of CCS stock and cash Cash portion to be funded on revolving credit facility or through longer-term debt raise Assumes repayment of existing UCP debt Pro Forma Summary Balance Sheet / Capitalization Bas
Slide 12: Driving Shareholder Value Through Combination of Two Public Homebuilders
Driving Shareholder Value Through Combination of Two Public Homebuilders Color Scheme 177 118 48 160 160 160 177 154 48 177 66 47 48 147 176 104 60 146 Cycle-Tested and Aligned Management Team Strong and Growing Geographical Footprint Superior Operating Performance Attractive and Well-Located Land P
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