Innovative Building Systems Announces Intent to Acquire the Business of Future Home Technology, Inc.

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Largest Custom Modular Manufacturer in the U.S. Adds Capacity and Capabilities

Innovative Building Systems (IBS) (http://www.innovativebuildingsystems.com) 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

Innovative Building Systems (IBS) is the leading custom modular home producer in the U.S., operating factories in Maine, Pennsylvania, Virginia, Indiana, and Iowa. It markets its single family homes under the following brand names: Excel Homes, All American Homes, Modukraf Homes, and Keiser Homes. It’s multi-family and commercial buildings are constructed at all five facilities under the brand Innovative Design and Building Services (IDBS).

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. Since 1986, they have been reinventing the future of home building using custom modular home construction techniques in their state of the art construction facility. They are proud of the 6,000 families plus who are enjoying their homes built by their company. http://www.futurehometechnology.com

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Innovative Building Systems
Rob Ebbets, Executive VP
717-458-1404
rob.ebbets(at)ibsmodular(dot)com

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Rob Ebbets