|Allen Zaring III
It has been a big year for Allen Zaring III. There have been rumblings for months of a merger of his Zaring National and The Drees Co., but the official word came in early December: The Drees Co. closes on the deal to acquire Zaring National on Jan. 31.
Part of what took so long in negotiations was Ralph Drees’ meticulous examination of Zaring National Corp. The sticking point? A manufactured housing company called Homemax that Zaring started a few years ago and eventually lost him upward of $50 million.
The very public purchase of Zaring National by The Drees Co. — both are Cincinnati-based builders — made Zaring’s blunder in the manufactured housing world pretty well-known. "I think everyone knew it was my Achilles' heel," says Zaring. "In hindsight it was the dumbest thing I ever did."
Now that it’s over with, Zaring is moving on ... to retirement, after 36 years in the business. What does he resolve to do in the new year?
I resolve to: