Clayton Homes subsidiary Arbor Homes has acquired R&R Plumbing Inc. in a deal that closed July 1.
Financial terms were not disclosed.
Former owner Dick Poynter, who founded R&R in 1989, will remain as president and continue daily management of the operations. R&R has more than 90 employees.
“On behalf of the entire R&R Plumbing community, we are honored to join the Arbor Homes team and look forward to doing our part in providing high-quality affordable housing to central Indiana for many years to come,” Poynter said.
Founded in 1994, Arbor Homes was acquired in July 2018 by Berkshire Hathaway’s Clayton Properties Group Inc., a division of Berkshire Hathaway.
The R&R acquisition is the second for Arbor since it became part of Clayton Properties.
In December 2020, the company acquired Franklin-based Fisher Contracting, a land development company.
Arbor filed 1,372 single-family building permits in 2020, up from 1,188 the previous year. It has built more than 14,000 new homes in the Indianapolis area since its founding in 1994.
“We are excited to welcome this like-minded company into the Arbor Homes family,” Pete Logan, chief operating officer for Arbor said in written rcoook. “This partnership will help expand our mission of building great neighborhoods and homes for people across the state, where they can fully experience and celebrate life.”
Acquired by Berkshire Hathaway in 2003 for $1.7 billion, Clayton Homes has grown into a diverse builder offering traditional site built homes, modular homes, manufactured homes, tiny homes, college dormitories, military barracks and apartments.
© 2021 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.