Builder: Inside Entekra's Innovative Framing Process
Early one morning in August, veteran California carpenter Patrick Johnson showed up for work with two fellow crewmen of varying experience, Barry McKenna and Benny White, at a site in Northern California’s Eastern Valley.
Three working days later, after starting with nothing in front of them but a bare slab poured level by Merced, Calif.–based Central Valley Concrete and Trucking, the three stood back to look at what they’d accomplished: a fully framed, two-story weather-proofed enclosure for a home that would retail in the low $400s in Stonefield Home’s Mission Village in Los Banos, Calif., 80 miles east southeast of San Jose...
Entekra also engaged Whelan Advisory CEO Margaret Whelan, a leading investment banker to the housing industry, who is leading a capital raise for Entekra that would provide liquidity for two immediately planned factory expansion projects to support the five-year business plan.
The company’s strategy is to scale like there’s no tomorrow. The Ripon plant is in continuous production mode, and McCaughey and his co-founding COO Bran Keogh expect it to reach its 500-home annualized run-rate in mid-2018. Revenue for Entekra gets its rocket fuel if and when the firm can tap enough growth capital to open a second, 175,000-square-foot factory in Northern California by the fourth quarter of 2019, capable of delivering 3,000 homes annually on single shifts of production.