Colorado's Largest Private Homebuilder Joins Clayton Properties Group

Berkshire Hathaway's Clayton Properties Group Adds Oakwood Homes to its Growing Portfolio of Site Builders

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Jul 06, 2017, 11:05 ET

MARYVILLE, Tenn., July 6, 2017 /PRNewswire/ -- Clayton Properties Group, a division of Clayton, a Berkshire Hathaway company and one of America's largest homebuilders, today announced it has acquired Oakwood Homes, Colorado's largest privately held homebuilder* and community developer, and the approximately 18,000 lots it owns and controls, effective July 3, 2017. Oakwood Homes is the fourth homebuilding acquisition for Clayton, who also owns homebuilding companies in Missouri, Tennessee and Georgia.

Oakwood Homes sold 1,200 homes in 2016, including those like the one pictured.

"Oakwood Homes has an impressive history of homebuilding innovation, and practices a relentless commitment to quality and service for its customer base," said Keith Holdbrooks, president of Clayton home building group. "Oakwood's self-sustaining operating model, company culture and core values align well with Clayton's, which is paramount when we acquire a company. We look forward to working together with Oakwood to improve the homebuyer experience while providing greater cost-saving opportunities for homebuyers."

Founded in 1991 by CEO Pat Hamill, Oakwood Homes builds modern, distinct communities throughout Colorado and Utah that are recognized for their innovative designs, energy efficient homes and highly customizable building processes. The company sold 1,200 homes in 2016 alone, which represents a 20 percent increase from 2015. Oakwood Homes differentiates itself through its commitment to both customer and team-member experiences.

"After more than two decades of building beautifully functional new homes in Colorado and Utah as a privately held company, we are excited to join forces with Clayton," said Hamill. "This partnership is part of our strategic vision to continue our steady growth and to provide a very high standard of customer service for our loyal consumers, all while keeping our existing leadership team."

Clayton entered the site-built industry in 2015 through its Clayton Properties division in order to provide industry-leading homebuilding solutions and improve the experience of modern-day homebuyers. Since 2015, Clayton has increased its homebuilder portfolio by acquiring like-minded, innovative companies in strong growth markets, such as Summit Homes in Kansas City, Mo., Goodall Homes in Gallatin, Tenn., and Chafin Communities in Atlanta, Ga.

For more information, visit www.claytonpropertiesgroup.com or www.oakwoodhomesco.com.

*Colorado's largest privately held homebuilder, as of July 1, 2017, according to Metrostudy's New Recorded Closings Summary by Builder.

About Clayton

Founded in 1956, Clayton is committed to opening doors to a better life and building happiness through homeownership. As a diverse builder committed to quality and durability, Clayton offers traditional site-built homes, modular homes, manufactured housing, tiny homes, college dormitories, military barracks and apartments. In 2016, Clayton built more than 42,000 homes. Clayton is a Berkshire Hathaway company. For more information, visit claytonhomes.com.

About Oakwood Homes

Founded in 1991 by Pat Hamill, Oakwood Homes is the largest private builder in Colorado. Oakwood Homes is a company committed to the growth and development of the Front Range, and has delivered over 15,000 homes to date. Oakwood, as well as its founder Pat Hamill, have been recognized as leading community philanthropists. Through Oakwood's BuildStrong Education (formerly named Foundation for Educational Excellence), they have committed to education reform and early childhood education. For more information, visit oakwoodhomesco.com.

SOURCE Clayton