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Tuesday, September 27, 2011

H.I.G. GAINING CONFIDENCE IN MODULAR HOUSING

It wasn't too long ago that Excel Homes, the modular home manufacturer was in trouble and needed a white knight to come along and breath new life into it.  That white knight was HIG, the large private investment company that owns or controls many businesses.

About a year after HIG took over the reins of Excel and brought in new management, they went on another quest and brought Mod-U-Kraf and All-American Homes into their fold.  Both of those companies were struggling under Coachman Industries and the latest news is that both are now settling well into the HIG nest and starting to show renewed vigor.

Now HIG has introduced another brand into the market place, IDBS, specializing in larger commercial and residential projects throughout the Midwest, Southern, Mid-Atlantic, New England and Canadian markets.  With 6 factories that can produce projects close to where they are needed, shipping costs and service expenses are reduced for the developers.

Fort Bliss, Texas
Detroit, Michigan
Watch out everyone...H.I.G. has discovered modular in a big way and is putting it on the front burner with their newest entity.

7 comments:

William said...

Congrats to HIG for doing the next logical step in today's modular market. Offering these new services via IDBS will give the HIG companies a big leg up on the competition.
The only missing part of the HIG/IDBS offering is light gauge steel construction. HIG is remiss by missing out on the MOST valuable part of the modular industry. Their decision to now concentrate on the non-single family market makes it more critical for them to get into doing light gauge steel modulars and a plan to fabricate non-combustible structures and to move beyond the 4 story wood frame product.
Boy, thinking out loud how much sense would Deluxe make for HIG?

Modular Homes said...

Saving money by having factories in great locations will be a win for everyone involved including the environment.

Anonymous said...

two yrs ago nobody had heard of HIG and today they are becoming a major player in modular housing. Nice job.

Anonymous said...

William, Deluxe would make a great addition to HIG. There is strength in numbers and Deluxe would have so much to gain from it. I doubt that it would happen. The boys at Deluxe don't like anyone else to know what they do.

Anonymous said...

And they just had a layoff today of long term employees.

Mike said...

I understand they were keeping two factories open to handle all the multi-family project business. After completing the build for the current projects, I am told the next wave is not coming until 1st quarter 2012. So I understand the need for short term layoffs. In this economy they appear to be employing more workers than any other modular factory. As an Excel builder for over 20 years I am impressed with the way they are responding to the need to keep production available for single family to keep the backlog short, while flexing their plants to handle the need for extra capacity when they get big projects.

Anonymous said...

Now that the ranks of Excel have been cleared of the past management that got them in trouble, they seem to be rebounding quite well.
The only problem I see is for the modular factories that hired Excel's rejects. Maybe HIG should keep track of where these guys went and offer to buy those factories when they start to go belly up.