Toll Brothers Inc. (NYSE: TOL) has closed a deal for the homebuilding operations of Shapell Industries LLC for $1.6 billion.
Beverly Hills, Calif.-based Shapell is a land development and home building company. Toll Brothers’ acquisition includes 5,200 home sites in California.
The deal was originally announced in November, and is one of several M&A transactions that could indicate a resurgence in the home building market.
Other similar deals include PSP Capital Partners LLC’s acquisitions of hardware company E.B. Bradley Co.in February, and Nova Capital’s purchase of a group of hardware business owned by Newell Rubbermaid Inc. (NYSE: NWL).