Posts Tagged ‘Kevin Clayton’

Clayton Homes Makes a new Acquisition

December 1st, 2016 No comments

Jim Clayton, David Doyle and Kevin Clayton. Credit: Doyle Mobile Homes.

Clayton Homes, a subsidiary of Warren Buffett’s Berkshire Hathaway (BRK/A) has acquired Flemingsburg, Kentucky based manufactured home retailer Doyle Mobile Homes. Terms of the deal were not disclosed.

Clayton Homes will turn Doyle Mobile Homes into a Clayton Home Center, and current owner David Doyle will remain with the operation as general manager.

I’ve known David Doyle and his family my entire career,” said Kevin Clayton, CEO of Clayton Homes. “We are so fortunate they have decided to join Clayton Homes. Their home center was inducted into the Hall of Fame in 2001 and their home center is achieving a 98 percent Customer Service Index score, which has rarely ever been done.

Brothers and World War II veterans, Russell and Adrian Doyle, founded Doyle Mobile Homes in 1962. For the past 30 years, the company has been an exclusive Clayton homes distributor and was recognized as a 2001 CMH Hall of Fame sales center, making it the fourth business to be given this recognition.

The CMH select designation is bestowed on those retailers/builders that exemplify a level of excellence in service and a long time commitment to Clayton Built manufacturing.

We’re thrilled to join the Clayton family,” said David Doyle. “We’ve been selling Clayton homes in this community for a long time, and we’re going to continue to do so while maintaining our commitment to customer service. Flemingsburg is a tight-knit community of just over 3,000 people and we plan on remaining a vital business to the families of this area.


Credits: Clayton Homes, Doyle Mobile Homes.

Clayton Homes is part of one of the industry-connected stocks monitored each business day, here on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews.


Credit: Clayton Homes.

For the most recent closing numbers on all Berkshire Hathaway and all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.


MH Industry Leaders Pursue New Marketing Strategies

May 25th, 2016 Comments off

manuf home   royal homes of raleigh  nc  creditAt the 2016 National Congress & Expo for Manufactured and Modular Housing held in Las Vegas, 700 manufactured housing (MH) professionals heard a panel of industry leaders state that, with the onset of seniors downsizing, single-parent households and Millennials becoming the largest consumer group, the time is ripe for MH to move to the forefront of affordable housing.

According to sbwire, the discussion revealed the U. S. needs 1.3 to 1.4 million housing starts annually to keep up with demand, and that 55 percent of new mortgages are for first-time home buyers.

Noting the value of the entry-level market “that brought us to the dance,” CEO Kevin Clayton of Clayton Homes said MH producers are reaching out to a broader range of potential consumers who are just now discovering the MH lifestyle, with a focus on price, image, aesthetics and marketing strategies.

Energy savings and curb appeal have to be part of that draw, said Clayton, who said MH interiors are modern, and emphasized his company is drawing a bead on enhancing the exteriors away from the traditional skirting and low roof lines.

Now that the interior is nailed, we need to destroy that trailer image,” created by the outdated exteriors, said Don Westphal, who designs and develops manufactured home communities.

Champion Homes CEO Keith Anderson said his company is altering the outside to make MH look more like site-built homes but without major cost, and is tapping into the Millennials market via social media, new websites, MHVillage and its own employee base. He added Champion has seen a 500 percent increase in website hits and leads in the last six months.

Gary McDaniels, whose Yes! Communities zero in on creating family-focused developments, said the industry can meet every price point, but most consumers are looking for a clean, secure and affordable place to raise their families.

For more on what industry leaders had to say about the future of factory-built housing, see “Where do we go from here?” on MHProNews here.  ##

(Image credit: Royal Homes of Raleigh)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Clayton Weathers Storm, Turns $706M Profit in 2015, 2016 Looking Good

May 6th, 2016 Comments off

clayton_knoxnews_shelley_kimel_creditDespite all the criticism aimed at Berkshire Hathaway’s Clayton Homes over allegations of predatory and discriminatory lending through its two finance wings, marketing director Carl Hill said Clayton has had a very good spring and continued year-over-year growth, according to reuters. As MHProNews has reported monthly, manufactured home (MH) production has been on a rebound since Aug. 2011, and is currently up 25 percent over last year at this time.

Noting that nobody wins if an MH has to be repossessed, Hill said Clayton sold over 34,000 homes last year, resulting in revenue of $3.58 billion, producing a pre-tax profit of $706 million.

He also said one-third of Clayton’s borrowers are Millennials, mostly renters and those with lower credit scores. The next largest percentage are retirees looking to downsize. The prices for the MH start below $50,000, but Hill said the “vast majority sell for under $150,000.”

Speaking at the annual Berkshire Hathaway shareholder’s meeting, Berkshire Chairman Warren Buffett, who had praised CEO Kevin Clayton in Feb. during the firestorm of criticism, said only 2.64 percent of Clayton’s MH loans went into default last year, although the company did lose $157 million on 8,444 foreclosures. What percentage of these originated by other lenders was not disclosed.

As MHProNews reported April 29, 2016, Clayton expanded its reach into the site-built home building market by acquiring middle-Tennessee builder Goodall Homes, its second such acquisition following last year’s $50 million purchase of Chafin Communities of Georgia, as reported here Nov. 2, 2015. ##

(Editor’s Note: for a related story on Warren Buffett, click here.)

(Photo credit: knoxnews/Shelley Kimel)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily business News-MHProNews.

Clayton, Next Step, NeighborWorks Collaborate on Low-income Housing

April 18th, 2016 Comments off

waco_neighborworks__wacotrib_slash_Jerry_Larson__Steve_Fulton_Clayton_one_half_duplexAs part of a joint attempt to create more affordable housing in Waco, Texas, Clayton Homes in Waco is building a modular duplex to be sited on a lot owned by non-profit NeighborWorks, according to what wacotrib informs MHProNews. Each of the two 1,100 square foot units will feature three bedrooms, two baths with appliances and will rent for $900 a month.

Roy Nash, president and CEO of NeighborWorks Waco, expressed hope this is the first of several modular duplexes Clayton will build in conjunction with his organization and Louisville, KY-based Next Step, which seeks a network of builders to help replace two million energy-inefficient homes, as well as organizations that can offer low-cost financing.

Clayton Homes’ Steve Brady says CEO Kevin Clayton has a longstanding relationship with Next Step and is supportive of the non-profit’s mission.

CEO Chris Nicely of Next Step said his organization is acting as a liaison between Clayton and Waco’s NeighborWorks. “We see this effort as one that will produce high-quality and energy-efficient housing for those who need it most,” Nicely said. Families that lease space in the duplex may later decide to own their unit.

Work crews are expected to have the duplex ready for a public showing around mid-June. There are more vacant lots near Waco’s inner city that are also suitable as sites for housing for low-to middle-income residents.

Nash said NeighborWorks and Next Step will split a Clayton rebate worth about $12,000 as partners in the project.

Stacey Epperson, president of Next Step, said, “We believe factory-built homes are the answer to America’s growing affordable housing crisis. The right-sized home at the right price allows NeighborWorks Waco and other nonprofits to serve more deserving families. We are happy to be a part of the solution.” ##

(Photo credit: wacotrib/Jerry Larson–Steve Fulton of Clayton Homes in front of one of the duplexes)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Clayton to Open Texas Plant, as it Celebrates 60 Years in Business

April 13th, 2016 Comments off

Clayton_Homes__prnewswire__creditThe Athens (TX) City Council adopted a resolution in support of the Athens Economic Development Corp.’s $300,000 incentive package for jobs created by Clayton Homes bringing a manufacturing plant to the city, according to athensreview.

The council agreed to a property tax rebate for Clayton over a five-year period, beginning with 100 percent, dropping to 65 percent the second year, 45 percent the third year, and 25 percent each of the two remaining years. Athens, TX is just southeast of Dallas. As MHProNews knows, Texas is the number one shipment state for manufactured homes in the U. S.

Meanwhile, Clayton is celebrating its 60th year in business. Founded by Jim Clayton in 1956 with one retail center in Knoxville, Tennessee, the company has become one of the largest homebuilders in the nation, as reported by prnewswire.

Kevin Clayton, Jim Clayton’s son and current CEO, said, “I’m so proud of the level of quality and innovation our homes have attained over the last 60 years. This year we predict over 34,000 families will trust us to help them find the best home for their lifestyle and know that we will be there long after their purchase.”

In 2003 Warren Buffett’s Berkshire Hathaway acquired Clayton. ##

(Photo credit: prnewswire-Clayton Homes on Clinton Highway, Knoxville TN)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

John Kalec Grew Clayton through the Recession, Leaving after 20 Years

April 4th, 2016 Comments off

john_kalec_retiring_cfo_of_claytonJohn Kalec, Clayton Homes Executive Vice President and CFO, has announced his retirement after 20 years with the company, according to a press release reported by thedailytimes to MHProNews.

Focusing on strategic and operational activities, Kalec led the accounting and financial teams at Clayton. “Specifically, he has helped lead the company toward organic growth through multiple acquisitions and a housing recession,” the press release stated.

After Berkshire acquired the company in 2003, Kalec corresponded with other Berkshire counterparts.

Said Clayton CEO Kevin Clayton said in a statement, “John’s guidance and wisdom throughout the years cannot be measured or described in words. Under his watch, the company more than tripled in size.”

Amber Krupacs, also the CFO for Clayton’s Vanderbilt Mortgage, will replace Kalec. ##

(Photo credit: thedailytimes–John Kalec)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Clayton Homes Donates to Military Support Group

February 1st, 2016 Comments off

hope_for_the_warriorsMHProNews has learned from thenewsstar, the Hope for the Warriors organization, a national non-profit that provides support for members of the military and their families, including families of the fallen and military caregivers, received a check for $33,600 from Clayton Homes President Keith Holdbrooks and CEO Kevin Clayton at the Louisville Manufactured Housing Show Jan. 21.

Jessica McKinney, a representative from Hope for the Warriors, said, “We are honored to accept this generous donation, which enables us to continue serving thousands of military families across the country. One of our core values is to meet the changing needs of service members and their families and it is through donations like these that we are able to achieve our goals.”

Clayton home building group President Keith Holdbrooks said, “These are the men and women and their families that sacrificed for all of us to enjoy the freedoms we have. We are fortunate to have found a group that is doing the right thing and proud that we can be a part of that effort.”

Clayton Homes is the largest producer of manufactured homes in North America. ##

(Image credit: Hope for the Warriors)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Clayton Teams with Electrolux

January 7th, 2016 Comments off

clayton_knoxnews_shelley_kimel_creditMHProNews has leaned from prnewswire that Clayton Homes has partnered with AB Electrolux to offer a complete selection of refrigerators, dishwashers, ovens, washing machines and other household appliances as options for its homes.

Each of Clayton’s 36 facilities across the U. S. will be outfitted with Electrolux products. Clayton CEO Kevin Clayton said, “We are always interested in providing more value to our customers, whether that means increasing the energy efficiency of our homes or offering a large range of models and features,” Clayton said. “This partnership with Electrolux is designed to do just that—add value to our homes.”

Founded in 1956, Clayton offers traditional site-built homes, modular homes, manufactured housing, tiny homes, college dormitories, military barracks, and apartments. In 2015 the company built more than 34,000 homes. ##

(Photo credit: knoxnews–Shelley Kimel)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

RV/MH Hall of Fame Head saves over $600,000

October 22nd, 2015 Comments off

rv mh half of fame in Elkhart INDDarryl Searer, chairman and president of the Recreational Vehicle/Manufactured Housing (RV/MH) Hall of Fame in Elkhart, Indiana has announced that a 12-year loan taken out to purchase the David Woodworth antique RV collection has been paid in full— in just 2½ years, saving the Hall $565,000.

Searer successfully renegotiated the $1.165 million loan down to a $600,000 cash settlement, borrowing the money from 1st Source Bank. By negotiating the loan from a 4.5 percent interest rate down to a 3.5 percent rate, Searer saved the Hall an additional $50,000, as elkharttruth tells MHPronews.

When Searer took over the helm in 2012, the Hall was in danger of closing due to financial problems, but Searer has managed to turn the situation around. “There’s light at the end of the tunnel,” he said. The debt elimination challenge, initiated by Kevin Clayton of Clayton Homes, which is a competition between the MH and the RV industries to each raise $1 million, has resulted in more than $715,000 raised to date. ##

(Photo credit: RV/MH Hall of Fame and Museum)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

$54,000 Raised Towards Eliminating RV/MH Hall Debt

September 25th, 2015 Comments off

rv_mh_hall_of_fame_south_entrance__rv_business_creditThe Manufactured Housing Institute (MHI) informs MHProNews that Darryl Searer, president and chairman of the RV/MH Hall of Fame in Elkhart, Indiana reports $54,000 was raised toward Kevin Clayton’s Debt Elimination Challenge at the 4th International Networking Roundtable for Land-Lease-Lifestyle Communities in San Diego, California.

Champion Home Builders, Inc. donated $50,000 of the amount, bringing the total raised to $605,000 toward eliminating the RV/MH Hall’s $2 million in debt. The campaign was established to end the debt in three to five years. Both the manufactured housing and the recreational vehicle industries have commited to raise $1 million each. ##

(Photo credit:RVBusiness–RV/MH Hall of Fame and Museum)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.