G&I Homes, the manufactured and modular home builder, headquartered in Frankfort, NY. was purchased by Clayton Homes, a 60-year-old homebuilding company with more than 300 locations across 42 states.
The deal will still leave the Bushey family in charge of operating its six Upstate New York locations and construction company, and will establish a Northeast foothold for Clayton, which plans to expand throughout New York and Pennsylvania. No news yet if G&I Homes will continue to buy modular homes from the Excel or Ritz Craft factories in PA.
Joe Bushey — who was one of nine siblings who owned G&I Homes prior to the sale, and now serves as regional vice president for Clayton Homes — said the sale will not result in the elimination of any non-seasonal full-time jobs. The company is currently hiring sales positions to add to its workforce of about 50.
“Obtaining the capital required to grow the business was getting difficult … and this just seemed like the right time to do something,” said Bushey.
Clayton has done business with the Busheys for years and have been in talks about merging for almost three years.
Maybe Uncle Si will take up residence in NY now that Clayton has a stronger foothold in the Northeast.