Indiana, Michigan Manufactured Home Companies Merging
Elkhart-based Skyline Corp. has announced a merger agreement with Champion Enterprises Holdings LLC in Michigan. The resulting company will be called Skyline Champion Corp., which will be headquartered in Elkhart with additional executive offices in Michigan. Skyline Champion Corp. is expected to be traded on the New York Stock Exchange under the ticker symbol "SKY."
Plans call for current Champion Chief Executive Officer Keith Anderson to serve as CEO of the combined company. Current Skyline Board Chairman John Firth and current Skyline CEO Rich Florea are expected to nominated directors and Skyline founder Art Decio appointed senior advisor after serving nearly 60 years on the board.
The deal, the companies say, is expected to deliver "significant annual synergies," and create the largest publicly-traded, factory-built housing company in the country. If approved by Skyline shareholders and regulators, the transaction could close in the first half of the year. Skyline Champion Corp.'s North American footprint will include 36 manufacturing facilities producing manufactured, modular and park model homes and commercial structures, as well as 21 retail locations and 10 logistics locations.
You can connect to additional details about the definitive agreement by clicking here.