Berkshire Hathaway’s Clayton Homes, the leading builder of manufactured homes, is quickly becoming a big player in the site built home business. Clayton has acquired Highland Homes, a Florida home builder that is the ninth home builder acquired by Clayton in just three years.
In its 23rd year, Highland, which is based in Lakeland, Florida, is headed by the father and son team, Bob and Joel Adams. Both will be staying on to run the company under Clayton.
The builder will join Clayton Properties Group, a division of Clayton Home Building Group that is based in Maryville, Tennessee.
Highland’s focus is on the low and midprice market, which fits with Clayton’s market approach for its site built homes.
“We are thrilled to join Clayton Properties Group’s family of builders,” said Joel Adams, Highland Homes’ executive vice president, in the statement. “The partnership with Clayton opens up tremendous opportunity for our team members to continue our focus on building high-quality, affordable homes in Central Florida with a strong emphasis on customer experience and market growth.”
Ranked 75th on the 2018 Builder Magazine’s Builder 100 list, Highland built 800 homes in 2018, and is aiming to construct 980 in 2019.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.