Den­ver-based Oak­wood Homes bought

The Denver Post - - BUSINESS - By Erin Dou­glas

Oak­wood Homes, the com­pany started by prom­i­nent Den­ver po­lit­i­cal donor and busi­ness­man Pat Hamill, said Thurs­day it has been ac­quired by Clay­ton Prop­er­ties Group, a di­vi­sion of Berk­shire Hath­away. Terms of the deal were not dis­closed.

Clay­ton Prop­er­ties, based in Maryville, Tenn., ac­quired the ap­prox­i­mately 18,000 lots that Oak­wood owns and con­trols as a re­sult of the deal, which was ef­fec­tive Mon­day, the com­pa­nies said.

Founded in 1991 by Hamill, Oak­wood is the fifth largest builder in Den­ver and the sur­round­ing ar­eas, ac­cord­ing to Builderon­ The com­pany says it is the largest pri­vately owned home­builder in Colorado.

“We are ex­cited to join forces with Clay­ton,” Hamill, Oak­wood’s chief ex­ec­u­tive, said in a state­ment. “This part­ner­ship is part of our strate­gic vi­sion to con­tinue our steady growth and to pro­vide a very high stan­dard of cus­tomer ser­vice for our loyal con­sumers, all while keep­ing our ex­ist­ing lead­er­ship team.”

Oak­wood Homes is the fourth ac­qui­si­tion for Clay­ton. The com­pany also owns home­build­ing firms in Mis­souri, Ten­nessee and Ge­or­gia.

“Oak­wood’s self-sus­tain­ing op­er­at­ing model, com­pany cul­ture and core val­ues align well with Clay­ton’s, which is paramount when we ac­quire a com­pany,” said Keith Hold­brooks, pres­i­dent of the Clay­ton home build­ing group in a state­ment.

Oak­wood Homes sold 1,200 homes through­out Colorado and Utah in 2016 and pri­mar­ily ser­vices the Front Range. The com­pany fo­cuses on build­ing af­ford­able homes for first-time buy­ers.

Hamill was Den­ver Mayor Michael Han­cock’s cam­paign fi­nance chair­man in 2015 and con­trib­uted to the cam­paign. In 2008, he was a leader of a coali­tion of busi­ness and or­ga­nized la­bor of­fi­cials that dif­fused a hand­ful of con­tentious bal­lot mea­sures that threat­ened the state’s econ­omy. He co-founded the 21st Cen­tury High Tech Academy and the Foun­da­tion for Ed­u­ca­tional Ex­cel­lence com­mu­nity ed­u­ca­tion or­ga­ni­za­tions.

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