September 2, 2024
Asahi Kasei Homes Corp.

Asahi Kasei Homes concluded an agreement to acquire 100% ownership of ODC Construction, LLC (ODC), a Florida-based subcontractor performing residential construction work, on August 6, 2024 (US Eastern time), through a U.S. subsidiary, and completed the acquisition on August 29, 2024.

While strengthening its core business of order-built unit homes in Japan, Asahi Kasei Homes considers North American and Australian businesses to be important sources of additional growth, positioned as one of the Asahi Kasei Group’s “10 Growth Gears” (GG10), businesses to lead the next phase of growth in fields of focus as part of its medium-term management plan for fiscal 2024 focused on the theme “Be a Trailblazer.”

The holding company of the North American homes business, Synergos Companies LLC (Synergos), aims to enhance productivity and quality at manufacturing and construction sites mainly in Arizona and Nevada by leveraging its strength in construction process management while integrating subcontractors that are the core of the construction process, such as Erickson Framing Operations LLC and Focus Companies LLC, suppliers of building components, Austin Companies LLC, a residential electrical, concrete, and HVAC group, and Brewer Companies LLC, a residential plumbing group.

As Synergos has recorded firm performance by meeting growing needs for streamlining and cost reduction at construction sites due to labor shortages, long construction periods, and rising construction costs, Asahi Kasei Homes has continued to study opportunities to expand into new regions.

With the acquisition of ODC, Asahi Kasei Homes expands its business to Florida, which ranked second among the 50 states in terms of the number of residential building permits in 2023, and where strong housing demand is expected to continue.

ODC is one of the largest subcontractors in Florida performing framing and foundation work. ODC has a strong business platform in Florida, and is pursuing an efficient business model through means such as a work management system. Going forward, Asahi Kasei Homes and ODC will generate synergy by leveraging each other’s expertise and know-how, aiming to further improve the efficiency and quality of construction work.

Overview of ODC Construction, LLC

CEO

Tony Hartsgrove

Location

Orlando, Florida, the U.S.

Establishment

2006

Employees

250 (as of May, 2024)

Operations

Framing work, foundation work, etc. for home construction in Florida

News