This year marks the 10th anniversary of A-M Homes, a Santa Barbara-based home builder that has grown from annual revenues of $1 million in 1979 to an estimated $171 million in revenues for 1988.
With 24 developments under way in both Northern and Southern California and in Arizona, A-M Homes--the name comes from the last names of founders James B. (Bart) Araujo and Michael Muench--is a major player in one of the most competitive housing markets in the nation.
It’s also a company with plenty of capitalization, especially since last October, when Jennings Industries Ltd. of Australia provided additional capital of more than $25 million to A-M.
Muench said the infusion of capital will strengthen A-M’s position in home building, especially in California.
A-M Homes ranked 80th nationally on the “Builder 100" published last year by Builder magazine, a trade publication. The firm’s total 1987 sales volume was $144.7 million.