Clayton Homes, the nation’s largest manufactured housing and modular home company and subsidiary of billionaire investor Warren Buffett’s Berkshire Hathaway, made a splash last fall when it acquired site-built home builder Chafin Communities.
On Friday, the Maryville, Tenn.-based company announced another site-builder acquisition. This time it was Gallatin, Tenn.- based Goodall Homes, a builder of new single-family homes, town homes, and condominiums since 1990.
Clayton, through its site-building group, Clayton Properties, entered the site-built housing market to expand its portfolio of housing options to home buyers. The acquisition of Goodall Homes includes approximately 3,600 lots and 180 homes under construction in a five-county area in Middle Tennessee.
Last year, Goodall Homes closed on 436 homes, ranking the home builder second in the Middle Tennessee market. It expects to close on about 440 homes this year. Goodall Homes had revenues of just under $140 million last year.
“We have been blessed with so many successful opportunities,” said Goodall, who founded Goodall Homes 33 years ago, in a release. “This acquisition will help our employees, trades, suppliers and our families continue on this path of growth for years to come. We are honored to be on the Clayton team and to contribute to the continued success of Berkshire Hathaway.”
Goodall Homes’ owner and President Bob Goodall Jr. said that, after declining overtures from other suitors over the years, he accepted Clayton Homes’ offer because the two companies’ cultures matched well. Another factor was Clayton Homes’ commitment to retaining Goodall and his team, all of whom through the deal will have more opportunities for professional growth and advancement, he said.
Last year, Clayton built more than 34,000 homes. The company builds traditional site-built homes, modular homes, manufactured housing, “tiny” homes, college dormitories, military barracks and apartments.
“Adding great builders like Goodall to our team is exciting,” said Clayton home building group President Keith Holdbrooks. “As we continue to grow and expand into the site-built market, it is important to partner with teams that share our culture of providing an excellent customer experience.”