Neal Communities Acquires HITEK Truss Company in Response to Supply Delays
Neal Communities has farm business acquired HITEK. The Southwest Florida-based builder made the decision due to the unprecedented level of supply chain and labor constraints affecting the housing market.
Based in Brooksville, Florida, HITEK was founded in 2004 by four custom home builders to provide high quality, reasonably priced trusses in a timely manner. The company manufactures structurally engineered custom roofs, floors and trusses from the most reliable and durable wood, the company reports.
“Given current supply constraints in the construction industry, this acquisition is a step towards alleviating the supply chain challenges we are experiencing,” said Pat Neal, Founder and President of Neal Communities. “The goal is to continue to improve the buyer’s experience by building quality homes and delivering them on time. The acquisition of HITEK will help us reduce delays for an important part of the construction process. »
The purchase was finalized in February with HITEK owner Derrick Rushnell, who bought the company a year and a half ago. Rushnell will continue to run the business, which will retain most of its current customer base and is adept at building a wide range of farms. HITEK serves several counties in Florida, as far north as Alachua County and as far south as Charlotte County.
“I know Pat and his high level of integrity,” Rushnell says. “Pat asked me if I would consider selling, and we quickly came to an agreement. It was easy to work with him and come together to sell and buy, and it feels like a decision where everything the world wins.
This is not the first step that Neal Communities has taken in vertical integration. The Neal family of companies also includes Waterscapes Pools & Spas, Charlene Neal PureStyle Interior Design, Neal Communities Funding, Neal Signature Homes and Allegiant Title Professionals.