Standard Pacific, Ryland Merge To Create CalAtlantic Group - Quick Facts

(RTTNews) - Standard Pacific Corp. (SPF) and The Ryland Group, Inc. (RYL) announced the closing of their merger of equals transaction, creating CalAtlantic Group, Inc. (CAA). The companies also announced the launch of their combined consumer brand, CalAtlantic Homes.

Stowell will serve as Executive Chairman of the newly formed Board and Nicholson will serve as President and CEO. Current Ryland Chief Operating Officer, Peter Skelly, and current Standard Pacific CFO, Jeff McCall, Chief Marketing Officer, Wendy Marlett, and General Counsel, John Babel, will serve in these roles for the combined CalAtlantic Group, Inc.

The company anticipates that production, purchasing and other synergies from the transaction could result in annual cost savings of between $50-$70 million. CalAtlantic expects to realize a significant portion of the estimated cost savings by late 2016.

CalAtlantic Group had, as of June 30, 2015, an equity market capitalization of approximately $5.4 billion, an enterprise value of approximately $8.4 billion, and owned or controlled approximately 76,000 homesites.