Tuesday, April 21, 2015

IBS Expanding Roles of Local Management

I just received this update from IBS about changes within its management. I know the folks at all these modular factories and believe that they will continue to make the IBS name the leader in modular housing in the US.

Congrats to Steve Scheinkman on being named President and CEO of  A M Castle, a billion dollar specialty metals company.

Steve Scheinkman

April 21, 2015
 Innovative Building Systems on a Solid Footing for Further Growth
Innovative Building Systems (“IBS”) was formed in May 2010 concurrent with its acquisition of certain assets of Excel Homes Group, LLC. Since that time Innovative has expanded its family of modular homes adding the All American Homes, Modukraf Homes, Keiser Homes and most recently the Future and HandCrafted brands. IBS is now believed to be the largest custom modular home builder in the United States, with a factory footprint that allows it to deliver custom homes and commercial structures, such as dormitories, apartment buildings, schools, and medical facilities, to more than 30 states reaching 60% of the U.S. population.
The unprecedented growth has been achieved by the formation of a deep management team led by Phil Hickman, who serves as President of all IBS operating entities, and Jolene Myers, who serves as President and CFO of IBS. Phil and Jolene are supported by robust local management teams, together with dynamic and hard-working employees at all levels, that are unparalleled in the industry.
IBS is owned in the majority by Jeffrey Samson and Steve Scheinkman and in the minority by two large private equity firm partners.
While the senior management team has assumed the day-to day responsibilities in operating the business, as Co-Managing Directors and Company Officers, Steve and Jeff provide stewardship over the development and execution of the Company’s short and long term strategies.  Additionally, Jeff continues to develop exciting growth opportunities in new geographic areas, and leads the IBS initiatives in information technology and business development.
Jeff and Steve have known each other for over thirty years since their days working together in the steel industry. Jeff has continued with his ties to the steel industry as he has served on the Board of Directors of Macsteel Holdings (Pty) Ltd. for many years.  Steve has also maintained his ties having been elected to the Board of Directors of A.M. Castle and was recently approached to expand his role. With the support of the Management team, Steve assumed the role of President and CEO of Castle. Jeff and Steve remain fully committed to their investment in IBS and the modular industry.
IBS is looking forward to continuing its growth within its current footprint and as well as expanding into new geographies through acquisition. Due to the strength and depth of its management team and all its employees, IBS believes that it is extremely well positioned to capitalize on opportunities as the housing market recovers.
IBS greatly values the collaborative efforts of its suppliers and builders that allow it to continue to provide the innovation, quality and service excellence we are known for.

4 comments:

Anonymous said...

Aside from buying up factories across the east coast, what other things has he done for modular housing? It does sound like people that have been in the industry for years and know it well are finally back in control.

Harris Woodward said...

The absolute BEST thing that happened to all their brands and our industry as a whole is what they didn't have:

Steve and Jeff do not have decades of experience in the industry!

Like many others, the modular home building industry has been complacent and devoid of any kid of serious innovation. It often takes an outsider to help our "leaders" entrenched in the past finally start seeing the forest for the trees again.

Kudos Steve!

Bob the Builder said...

Gary, the only things I even know about this guy are from what I have read on your blog. I agree with Anonymous that aside from being good at buying and then closing factories, it doesn't appear that he has done much to help make people more aware of modular construction and increase our market share.

Coach said...

Harris, I agree with you about Steve Scheinkman. I've met him several times and he has spoken at one of my Builder Breakfasts. He may be gone from the every day operation of IBS but he is still the owner and has put very good and competent people in all the key positions that will insure that they become the leader in modular housing across the US. Well done Steve, on selecting these key people.