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Yes! Communities Closes on Major Deal, Added Insights Not in Media Release

May 9th, 2018 Comments off

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YES! Communities (“YES!”), one of the nation’s largest owners and operators of manufactured home communities, today announced that it had acquired a portfolio of 24 manufactured home communities, comprising over 6,800 residential home sites in the states of Michigan, Indiana, Illinois and Texas, from affiliates of Four Leaf Properties,” said the company in a release to the Daily Business News.

 

As a result of the acquisition, YES!’s portfolio now includes 213 manufactured home communities, comprising over 54,000 home sites, in 18 states.  While terms of the acquisition were not disclosed, YES! announced that it has completed a total of approximately $450 million in acquisitions so far in 2018, and is continuing to seek opportunities across the nation.”

Yes! has been named the Manufactured Housing Institute (MHI) “Operator of the Year” award for the last 9 out of 10 years.

Just two months ago, Yes! announced “that Steven J. Schaub, the company’s Chief Operating Officer, has been promoted to the position of Chief Executive Officer, replacing Gary P. McDaniel.  Mr. McDaniel will remain as a Senior Advisor to the Company.  YES! further announced the promotion of Karen E. Hamilton to the position of Chief Operating Officer, replacing Mr. Schaub.”

In his statement about the Four Leaf acquisition, CEO Steven Schaub said, “This acquisition of family-oriented properties in solid Midwest markets fits exceptionally well into our portfolio and offers considerable upside potential through the leasing of presently vacant home sites.  Consistent with our operating strategy, we intend to add new homes on open sites across the portfolio and invite new residents, both prospective homeowners and home renters, to enjoy the community and resident-focused YES! experience.”

COO Hamilton said, “We are proud of our YES! team members nationwide, who have once again been honored by their peers for the exceptional service they provide.  Their commitment to resident satisfaction and true community building are what make YES! special and we congratulate them on another successful year.”

About Four Leaf Properties:

In 2011, business partners Kevin Shaughnessy and Mike Callaghan — after selling their $12M data analytics/tech company — moved into the burgeoning manufactured home (MH) industry. Founding Four Leaf Properties, the team facilitates MH ownership, property management, home retailing, insurance, mortgage loans, community growth, and resident satisfaction. Their national portfolio has 7000+ sites,” per Business Wire.

The ranking of Yes! Communities in the National Community Council’s (NCC) top 50 operators as of the time of their report is found below. The move continues to the trend towards consolidation within the manufactured home communities sector, and the industry in general. ## (News, analysis, and commentary.)

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Related Reports:

 

 

 

 

 

Hundreds of New Manufactured Home Communities Opened, But How Many Have Closed? Industry Research Result$

 

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Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

Innovative Composites International has New CEO

May 29th, 2013 Comments off

MarketWire informs MHProNews the board of directors of Innovative Composites International, Inc. (ICI) has appointed Mark Rivers to serve as vice-chairman and interim CEO of the company, replacing Terry Ball, the previous CEO who has taken on the mantle of President and Chief Operating Officer (COO). ICI manufactures proprietary engineered composite products, including modular housing and shelters for those rendered homeless as the result of catastrophes. Currently a director of the company, Rivers has founded several businesses as well as helped existing companies with conflict resolution, mergers, partner buyouts and strategic alliances.

(Image credit: Innovative Composites International, Inc.)

Drew Draws New Leadership

February 13th, 2013 Comments off

PRNewswire informs MHProNews Drew Industries, Inc. has announced that President and CEO Fred Zinn will step down from his position effective May 10, 2013, and will be replaced by Jason D. Lippert, Chairman and CEO of Lippert Components and Kinro, Inc., Drew’s two subsidiaries. An executive officer since 1988, Mr. Zinn served as president and a director since 2008, and as CEO since 2009, and will continue as a consultant through 2013. Mr. Lippert will continue to serve as Chairman and CEO of Lippert Components and Kinro, as well as a director of Drew. Scott Mereness has been selected to serve as President and Chief Operating Officer (COO) of Drew effective May 10, 2013, and will continue in his role as president of Lippert and Kinro. Leigh J. Abrams, Chairman of the Board of Drew, says, “This carefully conceived leadership transition brings Jason Lippert and Scott Mereness to Drew’s top executive positions. Both these executives are highly experienced, and they have the vision, energy and ability to lead the company through its next phase of growth.” In addition, the corporate headquarters of Drew will relocate from White Plains, NY to Elkhart County, IN, the corporate headquarters of Lippert and Kinro. Drew is a major supplier of components to the MH and RV industries.

(Image credit: Drew Industries, Inc.)