Highland Homes, the 23-year-old homebuilding company founded by father-son team Bob and Joel Adams, has been sold to a subsidiary of Berkshire Hathaway Inc., the company founded by famed investor Warren Buffett, one of the world’s richest people.
Clayton Properties Group, a division of Clayton Home Building Group in Maryville, Tennessee, closed its purchase of Highland Homes, one of Central Florida’s largest home builders, on Thursday for an undisclosed price, the company said in a Friday statement. “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.” The Lakeland-based family company has built more than 8,000 homes in more than 200 communities in Polk County and across Central Florida since Joel Adams and his father, Robert Adams, founded it in 1996. In addition to Polk, Highland Homes has built in Ocala, Orlando, Sarasota, Bradenton and the Tampa Bay area. Highland Homes became the ninth home builder to join Clayton Properties, the site-built division of Clayton Home Building Group. “Highland Homes is a natural fit for our distinguished group of builders,” Building Group President Keith Holdbrooks said in the statement. “Like Clayton, Highland has a tradition of excellence and an intense focus on providing world class team member and customer experience. We look forward to blending the synergies between Highland and our builders by focusing on innovation and enhancing the customer experience for our home buyers.” Highland sold more than 800 homes last year and ranked 75th on the 2018 Builder Magazine’s Builder 100 list. It projects to build approximately 980 homes this year. Among the recognitions Highland Homes has garnered are the sixth largest Tampa Bay home builder by Tampa Bay Business Journal last year and the 44th fastest growing, privately owned company based in the Journal’s 2018 Fast 50 Awards. The Clayton Properties Group has operations in Alabama, Colorado, Florida, Georgia, Indiana, Kansas, Missouri, North and South Carolina, Tennessee, Texas and Utah. It ranked 29th on the 2018 Builder Magazine’s Builder 100 list and is on a pace to build more than 7,000 homes this year, including Highland Homes’ total. Founded in 1956, Clayton builds traditional site-built homes, modular and manufactured homes, tiny homes, college dormitories, military barracks and apartments. Bob Adams told The Ledger he plans to retire while his son will remain with the company under Clayton. Reported by The Ledger (May 4 2019)
0 Comments
Leave a Reply. |
Author
Archives
January 2022
Categories |