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Southern Energy Homes Inc. has acquired New Tazewell, Tenn.-based manufactured housing builder Giles Industries Inc., including the assets of affiliate SunRay RV LLC.
SunRay, founded by Giles president and CEO Alan Neely around three years ago, employs approximately 60 workers and produces an entry-level line of travel trailers under the Smokey brand.
Southern Energy Homes, Addison, Ala., purchased Giles for approximately $18 million. With about 425 employees and two manufacturing facilities in northeastern Tennessee, Giles builds more than 2,400 manufactured homes a year.
“The addition of Giles Industries expands our markets and product line with homes at the entry-level price point,” stated Keith O. Holdbrooks, CEO of Southern Energy Homes. “We are pleased to welcome Alan Neely and his team to Southern Energy.”
Giles was founded in 1959 and operated as a privately-owned company until its acquisition by Southern Energy Homes.