United Bilt Makes Moves Into Oklahoma, Texas

We understand that United Bilt Homes of Springdale recently closed on a deal that will give them seven new locations in Texas and Oklahoma. The locations are former Jim Walter Homes offices that complement the UBH’s existing footprint of 17 offices across five states.

Walter Industries Inc. of Florida closed its Jim Walters operations on Jan. 6. Walters Homes and UBH had similar business models of building customized homes based and financing the construction and purchase.

Terms of the deal were not disclosed. A press release about the closings said WII expected to record a “pre-tax charge of approximately $8 – $10 million in the fourth quarter 2008 related to the closure of the business.” There were 37 Jim Walter locations.

Craig Young, CEO of United Holding Co., which is parent to UBH, said the company is affected by the economy but that it is not as bad as builders in subdivisions in town. Much of UBH’s homes are built on land already owned by the customer, a lot of times at rural locations.

UBH will eventually take on about 25 new employees with the purchase, Young said.