Arbor Homes, the most active home builder in the Indianapolis area, acquired Indianapolis-based R&R Plumbing Inc. in a deal that closed on July 1, the companies announced on Tuesday.
Arbor said the acquisition of R&R, who has been an installer for the construction company for 20 years, “will strengthen the company’s existing efficient construction processes.”
Financial terms were not disclosed.
Former owner Dick Poynter, who founded R&R in 1989, will retain his role as President and continue the day-to-day business. R&R employs more than 90 people.
“On behalf of the entire R&R plumbing community, we are honored to be part of the Arbor Homes team and look forward to doing our part to ensure that central Indiana continues to provide high quality, affordable housing for years to come,” said Poynter in a written statement.
Arbor, founded in 1994, was acquired in July 2018 by Clayton Properties Group Inc., based in Merryville, Tennessee, a division of Berkshire Hathaway, but maintains its headquarters in Indianapolis.
The R&R acquisition is Arbor’s second since it became part of Clayton Properties.
In December 2020, Franklin-based Fisher Contracting acquired a land development company.
Arbor filed 1,372 single-family building permits in 2020, up from 1,188 the previous year. It has built more than 14,000 new homes in the Indianapolis area since its inception in 1994.
“We are excited to welcome this like-minded company into the Arbor Homes family,” said Pete Logan, Arbor’s chief operating officer, in a written rcoook. “This partnership will help expand our mission to build great neighborhoods and homes for people across the state to fully experience and celebrate.”
Comments are closed.