Boston, MA. Blu Homes, a maker of "green, precision-built" prefabricated homes based in Waltham, MA and San Francisco, CA, has successfully completed its first institutional round of investment, totaling nearly $60 million. The financing round was led by Netherlands-based Skagen Group. With initial private funding, investment in Blu Homes now totals nearly $69 million since it began operation in 2008. Nixon Peabody LLP served as legal counsel for Blu Homes.
Blu Homes is America’s leading designer and manufacturer of architect-designed, green, precision-built homes. Blu’s homes–which feature bright, open floor plans, soaring ceilings and the latest in green and energy-saving technology–can drop a family’s carbon footprint, energy use and water use by up to 70%. Customers can design their own Blu homes for free online in 3-D with the Blu Configurator. Blu Homes plans to use this latest round of capital to fund Blu’s expansion of sales, marketing, technology development and potential acquisitions.
The Nixon Peabody team was led by Boston-based Private Equity and M&A partner Greg O'Shaughnessy.