Foley & Lardner LLP served as legal advisor to Skyline Champion Corporation (NYSE: SKY) of Troy, Michigan, a leading producer of factory-built housing in North America, in its acquisition of Regional Homes, a manufactured and modular housing company built by Heath Jenkins of Mississippi.
The purchase price was approximately $458 million in cash, assumed debt, and stock, plus additional consideration subject to an earnout. With this acquisition, Skyline Champion grows its manufacturing and retail footprint across the South and cements its position as one of the top factory homebuilders in North America. Mr. Jenkins has joined the Skyline leadership team as President of the company’s captive retail operations.
The Foley deal team was led by Skyline relationship partner and securities and governance lawyer Patrick Daugherty and mergers and acquisitions partner Steven Cade. Daugherty credited Cade with driving the transaction from start to finish, coordinating the work of the team across many Foley offices and diverse practice areas, including Greg Neppl on antitrust matters, Belinda Morgan on employee benefits matters, John Litchfield on labor and employment matters, Ethan Lenz on insurance matters, Rishi Sodhi on tax matters, Candace Flatley on real estate matters, Sarah Null on banking and finance matters, and Gary Rovner on environmental matters.
