Tag Archives: MiTek

MiTek to Host Builder Technology Summit

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MiTek USA, a Berkshire Hathaway company, has announced the launch of the MiTek Builder Technology Summit. The event will be at the Naples Beach and Golf Hotel, in Naples Florida, September 19-22, 2017.

The 2017 MiTek Builder Technology Summit will showcase the very latest technology for home building design, estimating and workflow. The Summit will feature technology exhibits and demonstrations, as well as a wide range of educational/training sessions.

The technology Summit will feature MiTek’s builder-focused companies and software platforms including BuilderMT, Cubit, DIY Technologies, Sales Simplicity, SAPPHIRE Supply, SAPPHIRE® Build (KOVA), and Wrightsoft.

In addition, integration partner-companies that have linked to MiTek solutions will also be featured, including Avid Ratings, CG Visions, Build Intelligence (DOMO), Event 1 Software (Liberty Reports), LandDev,Punchlist Manager / Inspection Manager, Specitup, and Western Computer.

The three-day MiTek Builder Technology Summit is focused on information sharing. The Summit will kick off by hearing from current customers, presenting alongside their technology providers, to highlight their experiences and the impact these technologies have had on their businesses.

MiTek is urging attendance from senior home building managers, with a special focus on CEOs, COOs, CIOs, CTOs, as well as personnel from the sales, purchasing, scheduling, and quality-assurance departments.

“This Summit is designed as a technology exposition both in addition to a training/educational event.,” said MiTek’s Rob Hooker. “We intend to draw attendees from elite home building companies that want to see the latest technology designed to cut cycle-times, reduce the need for skilled labor, and drive higher profit margins. We’ll see you in Naples!”

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

MiTek’s SAPPHIRE Supply Brings Big Results for McCabe Lumber

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Berkshire Hathaway’s MiTek USA has announced that Cincinnati-based McCabe Lumber has implemented MiTek’s SAPPHIRE Supply, resulting in a 50% reduction in the time required to generate estimates and material take-offs.

McCabe Lumber is a long-time user of MiTek’s SAPPHIRE Structure for designing and manufacturing prefabricated components.

Using SAPPHIRE Supply, the newest SAPPHIRE module, McCabe can now create the most-accurate 3-D BIM structural frame in the building industry. With SAPPHIRE Supply, a wide range of structural products can be designed for roofs, floors, and wall applications, including proprietary EWP products, dimensional lumber, and MiTek’s USP Structural Connectors’ metal connectors.

SAPPHIRE Supply can also estimate non-structural materials such as drywall, roofing, and housewrap. A flexible formula-builder gives SAPPHIRE Supply users the power to define their own accumulation rules, further increasing accuracy.

McCabe Lumber has a staff of 120 and generates $40 million in annual revenue, Its customers are predominantly high-end custom production home builders and professional remodelers.

“With SAPPHIRE Supply, our material counts and delivery stages are so accurate, we see a clear path to reducing the error and waste rate from as much as 8% down to 2%, which is near-perfect accuracy,” said Dave Renchen, McCabe Lumber’s Estimating Manager.

“SAPPHIRE Supply uses a single shared structural model, and that offers McCabe a unified solution for efficient, consistent and accurate modeling, estimating, on order fulfillment across their organization,” explained MiTek’s Brian McCormick. “SAPPHIRE Supply eliminates the classic problem of inconsistent sales estimating, because it delivers accurate modeling and estimating on every structure.”

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

MiTek Acquires Wrightsoft

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Berkshire Hathaway’s MiTek Industries has acquired Wrightsoft Corporation, a leading provider of software for residential and commercial energy code compliance and HVAC system design. Wrightsoft is headquartered in Lexington, Massachusetts

“I’m thrilled with the acquisition of Wrightsoft, as this expands our technology leadership into a new area of residential and commercial construction for MiTek: energy load calculation and HVAC system design,” stated Tom Manenti, Executive Chairman of MiTek. “Aligned with our current software platforms, Wrightsoft will provide MiTek a new software extension into this essential aspect of residential and commercial construction. The resources MiTek brings to bear, coupled with Wrightsoft’s deep industry relationships, unique expertise, and proprietary software, will provide unequalled capabilities and efficiencies to MiTek’s growing residential and commercial customer base.”

“We are delighted to welcome Bill Wright and his leadership team to the MiTek family, and we look forward to working with them to continue providing exemplary service to their customers and growing Wrightsoft’s business,” Manenti commented.

Bill Wright, founder and President of Wrightsoft added, “We have successfully partnered with MiTek for a number of years now, and I am excited Wrightsoft has joined the MiTek and Berkshire Hathaway family. MiTek’s values-based approach to leadership combined with its vision of providing unsurpassed, value-added technology to the global residential and commercial construction industry, make this a perfect fit for Wrightsoft and all its employees.”

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

MiTek Acquires DIY Technologies

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Berkshire Hathaway’s MiTek Industries, Inc., a diversified, global business supplying a wide range of engineered products; proprietary business management and design software; and automated equipment to the construction and industrial markets, has acquired DIY Technologies. Terms of the acquisition were not announced.

Headquartered in Tucson, Arizona, DIY is a market leader in web-based design software for a wide range of home improvement and renovation projects.

“I am delighted with the acquisition of DIY, which has an enviable leadership position as a provider of on-line design software to the do-it-yourself, home improvement market. This acquisition is yet another extension of our leading position in technology serving the residential construction industry,” stated Tom Manenti, Chairman and CEO of MiTek. “DIY has established long-term relationships with some of the nation’s largest and most-respected retailers and building-products manufacturers. The combination of MiTek’s software and capital resources, along with DIY’s comprehensive web-based software, will provide unparalleled technology tools that will enhance our customers’ value proposition.”

“We are thrilled to welcome Michael Heisler and his team to the MiTek family and look forward to supporting their business model while expanding their software offerings and services, as we continue to grow DIY’s business,” Manenti commented.

Michael Heisler, CEO and founder of DIY added, “This acquisition is the culmination of more than ten years of successful partnering with MiTek. I am excited that DIY and all our employees have joined the MiTek and Berkshire Hathaway family. I have seen how MiTek truly ‘lives’ its core values, and because of this and its compelling vision of providing unrivaled, highly productive technology to the global residential and commercial construction industry, I know MiTek is the ideal home for DIY.”

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

MiTek Industries Appoints New CEO

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Berkshire Hathaway’s MiTek Industries, Inc. has appointed Mark Thom as its new CEO. The current CEO, Tom Manenti, will assume the role of Executive Chairman for 2017. For now, Mr. Manenti will continue to report to Warren Buffett.

Mr. Thom has a rich background of executive leadership and achievement in management and sales. For 16 years, he led teams within the former Tyco Healthcare, a nearly $12 billion global manufacturer of medical and pharmaceutical products, where Mr. Thom received top honors as a sales person.

Thom began his career at Tyco Healthcare after graduation from Miami University and rose to the role of president of the Tyco’s Vascular Therapy division in 1998, just eight years after he left college. Soon after Tyco Healthcare acquired Mallinckrodt Medical, Mr. Thom was named president of Mallinckrodt’s Diagnostic Imaging business, and he was later named Group President, Tyco Healthcare in early 2003. In recent years he served as leadership consultant to the MiTek senior leadership team, where he learned the MiTek business and its culture.

Mr. Thom assumes the CEO role at MiTek at a fortuitous time for the Company. With notable acquisitions, diversification, and organic growth, MiTek has doubled in size since 2011, and has a strategic plan in place to double again over the next five years. His addition now provides leadership continuity as Mr. Manenti retires in January, 2018.

“The naming of Mark to the CEO position addresses one of my key business imperatives – Leadership Development and Succession Planning – a well-developed and widely used road map for MiTek leadership into the future,” said Tom Manenti, Chairman and CEO of MiTek. “More importantly, Mark is simply a top performer, in the very elite class of executives in multiple categories of corporate operations and effective leadership. I was thrilled when Mark accepted the CEO position. It was a banner day for MiTek worldwide!”

MiTek is a diversified, global business supplying a wide range of engineered products; proprietary business management and design software; and automated equipment to the construction and industrial markets.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

MiTek’s New Atlanta Warehouse and Distribution Facility Offers Rapid Delivery Within 500-Mile Radius

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MiTek, a Berkshire Hathaway company, has opened a new warehouse and distribution facility in Atlanta GA.

The new facility is the third warehouse opened by MiTek in the past 13 months, and it joins other strategically placed manufacturing, warehousing, and distribution facilities already located in New Jersey, Florida, Indianapolis, Minnesota, Houston, Phoenix, and California.

The new Atlanta facility enables rapid distribution of MiTek building products to customers within a 500-mile radius. Fully functional on February 1, 2017, the new facility offers products that include USP Structural Connectors, USP Epoxy and fastener products, as well as MiTek truss connector plates. The facility will primarily serve MiTek’s two-step customers and support MiTek’s rapidly expanding sales network.

The new warehouse offers 45,600 sq. ft. of space, of which 3,500 sq. ft. will be dedicated to offices, training, and customer support. The address of the new facility is 4380 International Parkway, Atlanta, GA 30354. The warehouse has immediate access to I-75, I-285, I-85, and is one mile from the Hartsfield-Jackson Atlanta International Airport.

“This is the third new MiTek warehouse and distribution center we have opened recently. With its strategic location, it provides us with even more coverage areas for one-day or two-day delivery of MiTek products,” said Todd Asche, Senior Vice President of Operations. “This new warehouse and distribution facility is clear evidence that MiTek is ‘on the march,’ with a goal of distributing our products at an expansive geographical scale

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

New MiTek Lab is “Quantum Leap” in Capability

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Heat Pipe Technology (HPT), a division of Berkshire Hathaway’s MiTek Industries, has opened a new laboratory at its Tampa location, expanding its ability to research, develop, and test new products, while expediting the time-to-market for such products.

With 3,800 square feet of new testing and research space, HPT now has the capability to test to the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) Standard 1060. Indeed, HPT’s facilities are comparable to those offered by Intertek (AHRI’s official test agency) for Energy Recovery Ventilator (ERV) testing. Although HPT’s products may still be subject to the third-party AHRI testing and approval process, HPT can now pre-test its products to AHRI standards. This not only dramatically compresses the product development cycle-time, it also opens up more time and capability for HPT personnel to create new product innovations.

Situated on-premises, the new state-of-the-art HPT lab is fully equipped to support heat pipes testing up to 16 feet in length. With a robust automation and data-acquisition system, this facility offers the capability to run tests overnight and on weekends without human oversight.

“This new lab is a quantum leap in capability for HPT,” said HPT’s Dr. Onieluan Tamunobere, a resident scientist and engineer. “Our capability to innovate has been expanded, and our time to move innovations from concept to market has been compressed to a fraction of what it was before we had the lab.”

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

M&M Manufacturing Snaps Up Snappy Company

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Berkshire Hathaway’s MiTek Industries, Inc., through its subsidiary, M&M Manufacturing, has acquired Snappy Company, a leading supplier of metal duct systems for the residential HVAC market.

Snappy has manufacturing facilities in Detroit Lakes, MN; Medina, NY; and corporate offices in Marietta, GA.

According to MiTek, Snappy will complement M&M Manufacturing, a leading producer of sheet metal products, primarily servicing the air distribution and ventilation markets. M&M Manufacturing will invest in Snappy’s manufacturing capabilities, expertise, and infrastructure.

“We are excited to welcome Snappy in the family of MiTek companies,” stated Tom Manenti, Chairman and CEO of MiTek. “The experience and relationships of Snappy and M&M will be leveraged across all of our manufacturing platforms in order to expand capacity and customer service levels. Combining the manufacturing capacities of M&M Manufacturing and Snappy will allow both companies to better serve our customers and grow in the markets we serve together.”

“Snappy has been a market leader for more than 60 years,” added Rob Felton, President of M&M Manufacturing, “and Snappy’s reputation has been built on a heritage of great customer service, product innovation, and a focus on people. That’s a perfect fit for M&M Manufacturing, and we look forward to leveraging each others’ expertise and capabilities.”

Snappy is a leading supplier of metal pipe and fittings for the residential HVAC market, and the company is recognized for remarkable innovation, quality products, and impeccable service. Since 1955, Snappy has been a trusted resource to HVAC distributors and contractors. With a full line of components that fit together seamlessly and are safe for end users, the company manufactures approximately 4,000 SKUs of galvanized pipe, duct and fittings, as well as complementary accessories, including drain pans, aluminum and venting products.

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Commentary: Legalization of Marijuana Means “Gold Rush” for Berkshire Hathaway

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Marijuana may make its users relaxed and sluggish, but it will be a booming high time for one of Berkshire Hathaway’s companies.

Based in New Berlin, Wisconsin, Cubic Designs builds prefabricated custom mezzanine systems, standard steel platforms, pipe racks and canopies that add space to facilities.

It’s the kind of space that is needed for marijuana growing operations.

With California, Nevada, Arizona, Massachusetts and Maine all having just legalized the growing and sale of pot within their borders, Berkshire Hathaway’s Cubic Designs, a unit of MiTek, now has plenty of opportunities to market its wide variety of special platforms that maximize floor space in warehouses.

In addition, Arkansas, Florida, Montana, and North Dakota all just legalized the medical use of marijuana, which means that growing and distribution operations will begin in those states, as well.

For Cubic Designs, the marketing plan is ready and tested. When marijuana was legalized in Colorado, the company mailed fliers to marijuana dispensaries touting that they could double their growing space and improve their profits using Cubic Designs’ systems.

With the U.S. Cannabis Spot Index price currently at $1,393 per pound, as of November 4, 2016, maximizing growing and storage space can make millions of dollars of difference for a grower.

The New Gold Rush

Unlike most commodities that get grown in one region and shipped for sale in another, there is inherent duplication within the marijuana industry that benefits equipment suppliers. With marijuana still illegal on the Federal level, the harvested plants can’t cross interstate lines, so all the growing, processing and distribution operations need to be established separately in each state. These redundant operations offer business opportunities for establishing every phase of the infrastructure needed to support.

Much like the California Gold Rush in 1849 made big money for people supplying the panning equipment, this new “Marijuana Gold Rush” means lots of money to be made for equipment suppliers for growers and retailers.

With twenty-five percent of the U.S. population suddenly having access to legal marijuana, the growth opportunities for Cubic Designs will have a lot of upside ahead of it.

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

Two MiTek Companies Win 2016 Constructech Vision “Gold” Awards

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BuilderMT and Sales Simplicity, both MiTek companies, announced that they have each won a Constructech Vision award for their work with Arbor Builders.

This is the 38th technology award for BuilderMT and the 15th for Sales Simplicity.

To manage its construction workflows, Arbor Builders has implemented an all-encompassing solution, built on three key software tools — BuilderMT’s Workflow Management Suite (WMS),Sales Simplicity for CRM and sales automation, and Microsoft NAV for accounting. (Microsoft NAV was implemented by a BuilderMT-Sales Simplicity partner company, Western Computer, an accounting specialist in the home building sector.) For its careful choice of technology in preparation for rapid growth, Arbor Builders won the top gold prize in the “Builder/GC Residential Less than $5 million” category.

In a recent case study of Arbor Builders, company founder Jason Adams said, “What’s best about these systems – BuilderMT, Sales Simplicity and Microsoft NAV – is that they are all pre-integrated; they all talk to each other, and data flows from one to the other as if they were a single system.”

“Our ‘Best of Breed’ business model allows home builders like Arbor Builders to pick elite software packages in multiple categories, all of which have been integrated for ease-of-use,” said Tom Gebes, president of BuilderMT and Sales Simplicity. “Arbor Builders can now grow its company at any speed, confident they have the technology platform in place to accommodate an essentially limitless number of starts.”

About MiTek

Acquired by Berkshire Hathaway in 2001, MiTek is a diversified global supplier of software, engineered products, services, and equipment to the residential, commercial, and industrial, construction sectors.

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.