Innovative Building Systems, parent company of
Excel Homes, Mod-U-Kraf Homes, All-American Homes, Keiser Homes and IDBS,
announced today that it has entered into an agreement to acquire certain assets
and liabilities of Future Home Technology, Inc., of Port Jervis, NY. Future
Home Technology is a modular manufacturer of moderately priced to luxurious
single family custom homes and commercial multi-family buildings.
Steve Scheinkman, IBS CEO, said “We have a strong
national footprint with five facilities across the U.S. offering the leading brands in
the custom modular home business. The addition of Future Homes expands our
presence on the East Coast allowing us to serve Future’s loyal and growing
builder base and provide opportunities to support our other plants and product
lines.
Fotis Boliakis, CEO of Future Home remarked that
“Future’s strong reputation for a high quality product, as well as our strong
presence in the NY metropolitan area is a strategic fit and an accretive
addition to IBS’ facilities. We are all very excited to join such a great
organization with a very promising future.”
The deal is expected to close in November. Terms
of the acquisition were not disclosed.
About Innovative Building Systems
About Future Home Technology
Future Home Technology, Inc. provides Custom
Modular Homes in New York , New
Jersey , Pennsylvania , Connecticut , Vermont , Rhode Island , New Hampshire ,
and Massachusetts
3 comments:
The strong just keeps getting bigger and bigger. IBS must have deep pockets and a big backlog and needs help producing their homes.
I had a Builder Breakfast with Scheinkman. He's not messing around.
so...they started in 1986.. I was one of the original 7 hired to sell Future Homes and that was in 1990....whats with the 1986 ????
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