Tri Pointe Focuses on Mergers and Acquisitions With New Hire
Hear from TRI Pointe Group CEO Doug Bauer about the company’s newest hire—Mike McMillen who joins the firm as VP to direct the company’s merger and acquisition goals.”
“TRI Pointe Group celebrated its 10th anniversary earlier this year. While a great time to reflect on our many successes and growth, it was also an important point in our company’s path where we recommitted ourselves to our mission and set new goals for expansion,” Doug Bauer, CEO of Tri Pointe Group, tells GlobeSt.com. “From that focus came our 10-year strategic vision, or Next10 Strategy, which will emphasize organic growth, acquisition strategies, and the growth of our ancillary businesses.”
In his new role, McMillen will focus on executing the firm’s growth strategy, including the pursuit of long-term initiatives to gain market share within existing operations and expansion into new markets, according to Bauer. “Mike has a strong knowledge and appreciation of TRI Pointe Group’s strategy, culture and operations due to his eight years of service with TRI Pointe Group in other roles,” he says. “He has an even greater familiarity with its founders, having worked with president and COO Tom Mitchell and me for more than 25 years. Mike knows that in order to realize successful and sustainable expansion, we must look for customer-driven, best-in-class local firms with strong leadership teams and the same kind of values, mission and vision that define TRI Pointe Group.”
The firm will focus on expanding in the Southeast and Northwest, as well as growing its current market share in Sacramento, Denver, Austin and the Carolinas. “By adhering to our principles and brand pillars, we believe there are opportunities to significantly grow our business over the next decade, creating additional value for our shareholders,” says Bauer.
Tri Pointe is striking now because it is in a unique position to pursue growth and capitalize on success. “We believe that our balance sheet and liquidity provide financial strength to explore new markets and strengthen our current positions,” explains Bauer. “TRI Pointe Group’s combination of the resources, operational sophistication and leadership of a national organization as well as the regional insights, community ties and agility of local homebuilders is a powerful one. With the aforementioned financial strength, our differentiated premium brand focus, and our seasoned leadership team, we have a strong formula for success in those key Next10 areas of growth.”