Modular building company Vantem of Greensboro has acquired Affinity Building Systems, a modular home manufacturing company of Lakeland, Georgia.
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By David Hill
The interior of Vantem’s factory in Uruguay making modular building units.
Modular building company Vantem of Greensboro has acquired Affinity Building Systems, a modular home manufacturing company of Lakeland, Georgia.
The acquisition is part of Vantem’s plan to establish 20 U.S. plants through building new or acquiring other modular factories. The company, which has established a headquarters office in Greensboro, makes highly energy-efficient modular building units using structural panels made with a proprietary technique that are then delivered to builder partners.
Affinity Building Systems makes modular buildings made in its South Georgia factory that are then delivered to independent builders for single- and multi-family homes and commercial structures such as hotels and offices.
The company promotes its homes as particularly well suited to withstand hurricanes in the Southeast, and plans to soon introduce a net-zero energy option that does not require electricity from a power grid.
Terms were not disclosed.
Affinity CEO Tony Watson is retiring, and Vantem CFO Wayne Morrison will take his place at the head of Affinity, whose other employees will be kept on, according to Vantem.
“We are excited to welcome Affinity into the Vantem family. It is a wonderful company with a great team making top-quality, beautiful housing,” said Chris Anderson, CEO of Vantem.
“We look forward to building on the Affinity team’s success, integrating Vantem’s technology for higher energy efficiency and climate resiliency at competitive costs. We are especially looking forward to adding Net-Zero home options to the Affinity portfolio.”
Vantem recorded a $10 million round of investment in June and announced it was seeking to put its headquarters in Greensboro. Its lead investors are Breakthrough Energy, a clean-energy investment firm headed by Microsoft co-founder Bill Gates; New York investment management firm Quadrant Management; and TEM Capital.
Originally published on May 4, 2023
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