"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.