Best Mobile Home Parks

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Image result for designer kitchen

According to the latest manufactured housing trends, design and function are still at the top of the list.

Architectural style, color schemes, floor plans and attractive appliance packages remain as top priorities for most mobile home and manufactured housing buyers. With the typical smaller footprint of mobile homes, the design function and layouts can be a little more challenging than a larger home.

Even though some of the mobile homes have smaller square footage, manufacturers are dedicating more time and effort to providing better storage solutions and better ergonomics in the space that is provided. The extra space can be seen in things like built-in medicine cabinets, added pantry spaces and capitalizing on the little extra nooks for better use.

Naturally there remains pricing pressure on all fronts. With new regulations, comes additional costs. Some regulations can be beneficial such as having adequate cross bracing in a structure, while a number of diminutions improvements are adding substantial cost to home owners. We all hear about the need to support affordable housing, but very few seem to be asking why individuals cant pick out there own light bulbs or water fixtures anymore.

After all, most homes are connected to a electric and water meter. If the electric bill gets a little to expensive, individuals sooner or later will figure out that they can just shut the switch off and/or put in higher or lower wattage bulbs in “their” home to meet their individual tasks and needs.

So while the trends are changing, being able to select a home with the fixtures and functions you desire may be a thing of the past. And this lack of free market freedom is driving up the cost of all housing, from Mobile Homes to Multi-Million dollar mansions.

 

Skyline Champion Corporation

Agreement Creates Nation’s Largest Publicly Traded Factory-Built Housing Company

ELKHART, Ind. and TROY, Mich., Jan. 5, 2018 /PRNewswire/ — Skyline Corporation (“Skyline”) (AMEX: SKY) and Champion Enterprises Holdings, LLC (“Champion”), the parent company of Champion Mobile Home Builders, Inc., today announced that they have entered into a definitive agreement for the two companies to combine their operations. Under the terms of the agreement, Champion will contribute 100% of the shares of its operating subsidiaries, Champion Home Builders, Inc. and CHB International B.V., to Skyline. In exchange, Skyline is currently expected to issue approximately 47.8 million shares to Champion, representing 84.5% of the common stock of the combined company on a fully-diluted basis. Prior to closing, Skyline expects to declare a dividend to its existing shareholders of its excess net cash available for distribution under the agreement after certain trans-actional expenses.

Among the numerous benefits the combined company is expected to bring to all stakeholders include:

  • Significantly increased size and scale, with pro forma combined revenue of greater than $1 billion over the past twelve months*
  • Strong pro forma balance sheet and significant cash flow to support continued flexibility and long-term strategic growth
  • Significant annual synergies

The combined company will be known as Skyline Champion Corporation and trade on the NYSE American under the ticker symbol “SKY.” The Board of Directors will comprise eleven members, nine of which will be directors designated by Champion and two of which will be designated by Skyline. Upon closing of the transaction, Champion Chief Executive Officer, Keith Anderson, will serve as Chief Executive Officer of Skyline Champion Corporation. Additionally, Laurie Hough, Champion Chief Financial Officer, will serve as Chief Financial Officer of the combined company. Skyline anticipates nominating John Firth, current Chairman of the Board of Skyline, and Rich Florea, current Chief Executive Officer of Skyline, as Directors of the combined company and Art Decio, an original founder of Skyline and member of the Board of Directors since 1959, as a senior advisor to the combined company’s Board of Directors. Skyline Champion Corporation’s principal offices will remain in Elkhart, Indiana with additional executive offices in Troy, Michigan.

The business combination will create the nation’s largest publicly traded factory-built housing company, with greater than $1 billion in pro forma revenue over the past twelve months.* The combined company will have an expansive operational footprint throughout North America, with 36 manufacturing facilities, 24 of which are in the top 20 states for manufactured housing shipments. Skyline Champion Corporation will offer manufactured, modular and park model homes as well as commercial structures. Additionally, the combined company will have 21 owned factory-direct retail locations and provide transportation services to the manufactured housing industry from 10 locations across the United States.

It is anticipated that the transaction will generate significant annual synergies to be achieved through direct cost savings, reduced overhead costs and operational improvement opportunities. Additional synergies also are expected through cross-selling and distribution optimization by leveraging the combined company’s owned and independent dealer network.

Rich Florea, Chief Executive Officer of Skyline said, “The combination of Skyline and Champion represents a unique opportunity for two well-respected companies with strong brand history to come together and continue providing high-quality homes for customers, while also providing the greatest long-term value for shareholders. The combined company will have a strong presence throughout North America and will operate at a significant scale in addition to offering a broader choice of homes to customers. We believe Skyline Champion Corporation will be well positioned for impressive growth in the coming years, to the benefit of employees, shareholders and customers.”

Keith Anderson, Chief Executive Officer of Champion commented, “Getting to know the Skyline team has reaffirmed our belief that the two companies are a great fit for a combination. Both companies share a deep commitment to providing quality products and outstanding customer service. We will remain focused on executing our strategy as an even stronger company. I am particularly pleased that Art Decio has agreed to serve as a senior advisor to the Board. Art is a legendary figure in manufactured housing and we are fortunate to have the benefit of his lifelong commitment to quality and integrity in our industry.”

Art Decio, Skyline’s largest shareholder, has agreed to vote in favor of and fully support the transaction.

Art commented, “Champion and Skyline are tremendous brands in our industry, both dating back to the 1950s. Walter and Henry, Champion’s founders, built a tremendous company that will be a great partner with Skyline. Both Skyline and Champion share similar corporate cultures and have earned a reputation for uncompromising integrity across their relationships with communities, retailers, suppliers and customers. Skyline Champion Corporation will be well positioned to continue to grow and serve its customers with the best products the industry has to offer.”

The transaction, which is expected to be completed in the first half of 2018, is subject to the receipt of regulatory approvals and other customary closing conditions as well as the approval of Skyline shareholders.  In connection with the transaction, Skyline intends to file with the SEC a proxy statement and other relevant materials and documents regarding the proposed transaction.

 

About Skyline Corporation:

Skyline Corporation and its consolidated subsidiaries design, produce, and market manufactured housing, mobile homes, modular housing, and park models to independent dealers, developers, campgrounds, and manufactured housing communities located throughout the United States and Canada. The company has eight manufacturing facilities in seven states. Skyline Corporation was originally incorporated in Indiana in 1959, as successor to a business founded in 1951, and is one of the largest producers of manufactured and modular housing in the United States. For more information on Colorado Springs Mobile Homes for sale, visit http://www.skylinecorp.com.

About Champion Enterprises Holdings, LLC:

Champion Enterprises Holdings, LLC was formed in 2010 as the parent company of Champion Home Builders, Inc. which was founded in 1953.  Champion Home Builders specializes in a wide variety of manufactured and modular homes, mobile homes, park-model RVs and modular buildings for the multi-family, hospitality, senior and workforce housing sectors. The company operates 28 manufacturing facilities throughout North America. Additionally, Champion operates a factory-direct retail business, Titan Factory Direct, with 21 retail locations spanning the southern U.S., and Star Fleet Trucking, providing transportation services to the manufactured housing industry from 10 dispatch locations across the United States. Champion is majority owned by funds affiliated with Bain Capital Credit For more information on Colorado Springs Mobile Homes for sale, visit https://www.championhomes.com.