Within 90 days of closing, COBS will begin utilizing HouseRaising's HomeBuyerDirect program that will provide contracts with alternate options where homebuyers act as General Contractor on the projects with varying degrees of direct support from HRI.
Based on historical data, for every 1,000 prospects contacting COBS homes, approximately 20 or 2% sign contracts for services.
25 million in cash to acquire COBS and its management software and will issue approximately $1.
Pawson commented, "We are delighted to have the opportunity to expand the horizons for both companies by way of the acquisition, many joint venture projects are available within the internal operations of the companies and Cal-Bay will make available the resources to the COBS subsidiary to expand their operations and marketing needs to further grow the company, resulting in maximized market awareness, expanded corporate sponsorship, increased revenues and profitability.
Pawson further commented, "Robert (Rob) Mackle, the President of COBS Homes, will be appointed to the Board of Directors of Cal-Bay this week.
COBS (Complete Owner Builder Services) was founded to help people through the process of building their own homes.
Cal-Bay International's President Roger Pawson announced the news after the Board of Directors confirmed the company had entered into an LOI for the purchase of COBS as a wholly owned subsidiary of Cal-Bay.
COBS (Complete Owner-Builder Services) was founded to help people through the process of building their own homes.
Cal-Bay's President further added upon successful completion of the acquisition COBS would relocate to Cal-Bay Corporate Offices in Carlsbad, California, bringing the total number of employees at the corporate location to 40 people.