Wednesday, February 13, 2013

Handcrafted Homes Sold

Handcrafted Homes, LLC, a modular home manufacturer in Henderson, NC was sold on Monday to Cove View Capital.

CoveView will continue to operate under the name HandCrafted Homes and will be led by Paul Jarvis, an industry consultant. Jarvis is the new president of HandCrafted Homes. No word yet whether a new broom will sweep through the factory but from the people I've talked with, builders and their customers should see no changes.

HandCrafted Homes is a recognized leader in modular homes, apartments and commercial buildings in the mid-Atlantic region of the U.S and recently earned the 2012 Jerry Rouleau Award for Excellence in Home Design. They use independent builders and developers. The factory also owns 2 factory retail sales centers, which I'm told sold about 30 homes last.

View of the factory floor
Don't be surprised to see more modular home factories being sold to investment capital groups now that the recession is going away and the building industry realizes just how much modular construction is the best way to build in the future. 


Anonymous said...

If Paul Jarvis is running Handcrafted, what happened to Bill Murray? He is a great guy and leader.

Ibgreen said...

It is not a shock that new owners would take the view that if the current management had a game plan and the answers, they would have implemented it already. Bill is a smart guy, and will land on his feet. I wish all the success in the world to the new company. For the poster above, Bill had the same HUD/hudular experience when he came to HCH. If the new management cannot implement what the market demands, then the new owners will make changes. What HCH needs (in my opinion), is a marketing plan with floor plan revamp.

Anonymous said...

I sure hope that the MBAs with no Mod exp. do not get hold of yet another company and not consult with the guys who actually know what they are doing....given the chance.

Anonymous said...

Mr. lbgreen. That is not a true statement about Bill Murray's Hud/hudular experience. He has 3 times the modular/off site stick built experience than HUD.