Perry Homes, the Houston-based powerhouse builder, has taken another strategic leap in its Southeastern U.S. expansion with the acquisition of Jacksonville, FL-based MasterCraft Builder Group.

This move marks a significant private-to-private M&A transaction, solidifying Perry Homes’ foothold in Northeast Florida and potentially laying the groundwork for further growth in the Southeast.

The deal underscores the enduring value of human relationships, local brand reputation, and cultural alignment in strategic acquisitions — a sharp counterpoint to the trend of public-to-private or global enterprise acquisitions dominating the market, deals principally geared toward accelerating deeper and wider local scale via boxing out control of land positions.

The Builder Advisor Group team helped play a role in introducing and working with the Perry Homes team to establish a solid residential developer launch pad for their initial Florida operational push into the Tampa area," says Tony Avila, CEO of BAG, which represented MasterCraft Builder Group in the deal. "We were excited to work again – this time across the table – to introduce Chris Shee and his team to such a strong opportunity with Todd Chachere and his team at Perry Homes."

Perry Homes' Strategy: Building Momentum in Florida

This acquisition follows Perry Homes’ February 2024 announcement of its entry into Florida’s competitive homebuilding market. CEO Todd Chachere described the move as a natural progression for the privately held firm, known for its architectural focus, strong developer relationships, and exceptional customer experience. Chachere explains in a The Builder's Daily analysis earlier this year:

"We think Florida offers a lot of similarities to Texas: population growth, job growth, and an incredible pool of masterplan developers. These partnerships allow us to build with trusted collaborators in pro-business markets."

The MasterCraft acquisition amplifies Perry Homes’ position in Florida, particularly in Jacksonville, a key secondary market with a strong land pipeline and masterplanned community connections.

Founder and CEO Chris Shee and his brother Brad and team have built MasterCraft – starting with its founding in 2011 – on a foundation of craftsmanship, customer service, and community investment, aligning closely with Perry Homes’ tradition of excellence.

In a provided statement, principal executives of both Perry Homes and MasterCraft Builder Group comment:

Todd Chachere, Chief Executive Officer of Perry Homes, expressed his enthusiasm about the acquisition: 

"We are excited to welcome MasterCraft Builder Group to the Perry Homes family as both organization’s values closely align. This partnership accelerates our growth in Florida while honoring MasterCraft Builder Group’s reputation.” 

Chris Shee, Owner and Chief Executive Officer of MasterCraft Builder Group, discussed the careful consideration behind the decision to partner with Perry Homes:

“Selling MasterCraft Builder Group was a deeply personal decision. My brother, Brad, and I have built this company alongside an incredible team, and finding a partner who shares our values was essential. Perry Homes embodies the same commitment to quality, design, and exceptional customer care that defines MasterCraft." 

Private-to-Private Deals: Strategic and Cultural Fit

Unlike many recent public-to-private or international enterprise acquisitions, this deal reflects the unique dynamics of private-to-private transactions. Here, business culture, values, and strategic vision outweigh sheer financial scale:

• Strategic Fit: Perry Homes' focus on the move-up and high-end homebuyer markets complements MasterCraft’s semi-custom offerings tailored for modern families.
• Cultural Alignment: Both companies share a deep commitment to quality, customer experience, and community engagement, creating a seamless integration path.
• Leadership Opportunity: For the Shee brothers, the deal represents not just a transaction but a partnership that opens new growth avenues while maintaining their legacy.

Todd Chachere’s emphasis on cultural fit as a cornerstone of Perry Homes' Florida expansion reinforces why private acquirers often resonate with sellers:

"We take pride in partnering with developers and builders who share our values and commitment to quality. It’s about long-term relationships, not just transactions."

The Broader Context: M&A Activity in Homebuilding

This deal exemplifies the heightened activity in the homebuilding M&A space. Fueled by the Federal Reserve’s recent rate cut, private builders like Perry Homes are leveraging their nimbleness and financial strength to outmaneuver larger public players. With lot shortages and heightened demand from millennial buyers and 55-plus movers, private companies are increasingly attractive acquisition targets for their localized expertise and land pipelines.

As Tony Avila, CEO of Builder Advisor Group, recently noted:

"Builders are getting caught short on community count and looking to grow. Motivations range from capital needs to succession planning, but the demand for quality assets is stronger than ever."

Avila notes that the Builder Advisor Group team is working on bringing seven or more deals currently in Letter-Of-Intent stage across the finish line by year-end or in early 2025.

Implications for 2025 and Beyond

This acquisition positions Perry Homes to better meet Florida’s growing demand for high-quality housing while preserving the local reputation and relationships MasterCraft has built. With Perry’s operational expertise and financial backing, the integration could serve as a springboard for further expansion along the Southeast corridor.

For private builders, this deal reinforces the value of strong cultural alignment and local reputation in a competitive M&A landscape, a classic "builder-acquirer-of-choice" nod to the Perry team. As the Shee brothers put it in MasterCraft’s mission statement:

"Unlike national brands that put up cookie-cutter residences, our homes are thoughtfully designed for the future residents of each community."

By joining forces with Perry Homes, MasterCraft ensures its legacy of craftsmanship and customer service endures while scaling to new heights.