Innovative Building Systems Completes the Acquisition of 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 an acquisition subsidiary of IBS named Excel Homes of New York, LLC has completed the acquisition of certain assets and liabilities of Future Home Technology, Inc., of Port Jervis, NY. Future Home Technology is a well-established modular manufacturer of quality built moderate to luxurious single family custom homes, multi-family buildings and commercial structures.

“Closing our transaction to acquire the high quality Future Home business, along with our announced agreement to acquire HandCrafted Homes, allows IBS to better serve its growing business in the Mid-Atlantic and Southern Regions,” said Steve Scheinkman, President and CEO of IBS. “We are eager to continue exploring further acquisitions in the markets we serve as well as those that increase our geographic footprint allowing us to expand the menu of value added services we can offer to our customers to help them grow their businesses.”

Fotis Boliakis, CEO of Future Home will become a key member of the IBS management team in the roles of Vice President and General Manager of Excel Homes of New York/Future Homes and the Vice President of Commercial Business Development of IBS. He remarked that “Future Home Technology is thrilled to join the IBS platform of single family home brands and manufacturing facilities with its unique national reach. Personally, I am excited to join the senior management team of seasoned professionals, and to lead IBS to earn a substantial market share of the commercial modular manufacturing sector, especially in the high-density urban centers.”

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. Its 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

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

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Rob Ebbets