North American homebuilder Taylor Morrison is being sold to a private investment consortium for $955 million, top company officials said Thursday.

Taylor Wimpey Plc. announced it has agreed to sell its North American holdings, Taylor Morrison in the United States and Monarch in Canada, to investment funds separately managed by TPG Capital and Oaktree Capital Management, as well as JH Investments.

“We see this as a positive sign for the future of our business,” said Taylor Morrison CEO and President Sheryl Palmer. “The commitment and tenacity of our team has helped pave the road for today’s announcement.”

Taylor Morrison has homebuilding operations in Arizona, including its newest projects Adora Trails in Gilbert and Trovita Estates in Mesa. It also operates in California, Colorado, Florida and Texas as well as in Canada.

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