Cavco Industries, Inc. acquired Business of Solitaire Homes, Inc. for approximately $110 million.
January 02, 2023
Share
Cavco Industries, Inc. (NasdaqGS:CVCO) signed a binding offer to acquire Business of Solitaire Homes, Inc. for $93 million on October 26, 2022. Cavco expects to fund the acquisition entirely with cash on hand. Transaction is subject to applicable regulatory approvals and the satisfaction of certain customary conditions. The transaction is expected to close early in the Company's fourth quarter of fiscal year 2023. Cavco expects this proposed acquisition to be accretive to earnings and cash flow from operations. TN Capital Advisors LLC acted as exclusive financial advisor and Polsinelli served as legal advisor to Cavco for the transaction. Hartzog Conger Cason served as legal advisor to Solitaire Homes.
Cavco Industries, Inc. (NasdaqGS:CVCO) completed the acquisition of Business of Solitaire Homes, Inc. for approximately $110 million on January 3, 2023.
Cavco Industries, Inc. is a producer of manufactured homes in the United States. The Company designs and produces factory-built homes primarily distributed through a network of independent and Company-owned retailers, planned community operators and residential developers. Its segments include Factory-built Housing and Financial Services. The Factory-built Housing segment includes wholesale and retail factory-built housing operations. The Financial Services segment includes manufactured housing consumer finance and insurance. Its products are marketed under a variety of brand names including Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry and Solitaire. The Company also produces park model recreational vehicles (RVs), vacation cabins and factory-built commercial structures. CountryPlace Acceptance Corp. is its finance subsidiary and Standard Casualty Co. is its insurance subsidiary.
CAVCO INDUSTRIES, INC. 
