UK Builder Selling U.S. Operations

London, England, March 31, 2011 -- U.K. home builder Taylor Wimpey is leaving North America.

The company, Britain's second-largest home builder, said Thursday that its U.S. and Canadian subsidiaries were being sold to TMM Holdings, a limited partnership controled by funds affiliated with TPG Capital, Oaktree Capital Management and JH Investments. The North American businesses are headquartered in Scottsdale, Arizona.

Taylor Morrison, the U.S. company, is the country's ninth-largest home builder by revenue.