Horsham-based Toll Bros. has acquired CamWest Development, which it says was one of the biggest privately held home builders in the Pacific Northwest.
The amount of cash that traded hands was not disclosed by Toll, the luxury home builder. CamWest houses typically sell from the mid-$300,000s to the $700,000s, according to Toll. The 22-year-old CamWest expects to deliver about 180 homes in the Seattle area in 2011, generating revenues of about $90 million.
Earlier this month, Toll released preliminary results of $1.48 billion in revenues for its fiscal year 2011, which ended Oct. 31. It also delivered 2,611 units. (Final results are due out Dec. 6.)
In other local company news, FMC bought a Canadian firm that has a portfolio of patents on bioremediation technologies used in soil and ground water. The Philadelphia chemical company did not say what it paid for Adventus Intellectual Property, of Mississauga, Ontario. The sellers were Covington Capital and VentureLink Innovation Fund, both Ontario-based venture funds.