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MiTek

BuilderMT’s Model Expert Wins a 2018 Top Product Award from Constructech

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BuilderMT, a MiTek company owned by Berkshire Hathaway, has won its 38th technology award, the 2018 Top Product award from Constructech.

The award was earned by BuilderMT’s ModelExpert. Working in tandem with Sales Simplicity’s Feature Manager, ModelExpert is a new digital toolset for estimating any set of house plans and options that a builder can invent or configure. ModelExpert allows builders to create a standard estimating method for their entire organization, based on the way estimators naturally think about, measure, estimate, purchase, and construct house plans and options.

“ModelExpert is one of our newest modules, but it is part of a years-long commitment to integrating BuilderMT and Sales Simplicity into a single platform,” said Tom Gebes, President of BuilderMT and Sales Simplicity. “ModelExpert– offers our users more precision and effectiveness in the selling, estimating, bidding, and purchasing processes.”

© 2018 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.

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MiTek

MiTek Inks North American Sales and Distribution Agreement with OZCO Building Products

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Berkshire Hathaway’s MiTek has signed a North American sales and distribution agreement with OZCO Building Products.

OZCO Building Products is best known for originating the Ornamental Wood Ties hardware category, offering superior-quality structural connectors for use in decks, pergolas, benches, fences, gates, posts, gardens, planters, and more. OZCO is equally renown for setting the highest standards in retail displays, product installation training, and product knowledge.

As part of this new partnership, OZCO and its products will have access to MiTek’s North American sales force, and will be available through MiTek’s large footprint of retail and pro-dealer customers. OZCO products will now have access to the broad range of US & Canadian dealer locations that work closely with MiTek, while also tapping into the ever-growing MiTek customer base that has been converting to MiTek’s award-winning software, connectors, fasteners, and adhesives.

“Recently, OZCO Building Products has enjoyed tremendous growth, primarily because of our high-quality products combined with our top-tier dealer network,” said OZCO’s Ian Hill. “Now, in our never-ending quest to set higher standards as the leader in the Ornamental Wood Ties category, we couldn’t have asked for a better partner than MiTek. MiTek’s corporate culture and vision are a great fit for OZCO.”

© 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.

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Acquisitions MiTek

MiTek Industries Acquires Mezzanine International

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Berkshire Hathaway’s MiTek Industries has acquired UK-based Mezzanine International, one of Europe’s leading mezzanine flooring suppliers.

The terms of the acquisition were not announced.

With a focus on European markets, Mezzanine International is a highly regarded leader in the design, prefabrication, and installation of custom work platforms and structural mezzanine systems. In addition to serving the largest global e-commerce providers, the Company’s many customers include leading companies in distribution, processing, aerospace, manufacturing, retail, and entertainment. In order to support the Company’s tremendous growth, in early 2017, Mezzanine International opened a new location in Cologne, Germany.

Established in 1991, Mezzanine International is Europe’s leading mezzanine flooring supplier. Mezzanine International delivers bespoke performance structures, mezzanine decking, and ancillary products to clients across all industry sectors.

The acquisition of Mezzanine International follows another recent acquisition by MiTek in this same sector, Cubic Designs, Inc., a US-based leader in custom work platforms and structural mezzanine systems. Together, Mezzanine International and Cubic Designs can now offer mezzanine platform solutions to their customers on a global scale.

“I am so pleased that Mezzanine International has joined the ranks of a storied company, MiTek Industries, Inc. A vital aspect of this acquisition was the remarkable alignment of our core values with MiTek’s, which is essential to executing our long-range growth plans,” said Scott Chambers, managing director of Mezzanine International. “Given our current design and manufacturing capabilities in Europe, combined with the momentum we are sure to experience with MiTek’s global footprint, formidable brand and resources, we expect growth rates and technology developments that far outpace our competitors.”

“The acquisition of Mezzanine International furthers our strategy for global diversification. Scott and his team have built a growing business that is recognized as a leader in the markets where they compete, while building and maintaining a trust-based culture,” said Mark Thom, MiTek’s CEO. “This is an incredible addition to the MiTek family, and I’m truly excited about the future growth opportunities that we will create together.”

© 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.

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MiTek

MiTek Wins Multiple Awards from the North American Retail Hardware Association

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Berkshire Hathaway’s MiTek® USA has announced that its MiTek Builder Products division has won multiple awards from the North American Retail Hardware Association (NRHA) as part of its 2017 Packaging and Merchandising Awards Program. MiTek has been awarded a Gold Award for its “Bin Display.”

• MiTek has been awarded a Gold Award for its “Bin Display.”
• MiTek has been awarded a Silver Award for its “Carton Display.”
• MiTek has been awarded an Honorable Mention for its “Packaging.”

The judges’ criteria for the award included: Overall Shelf and Sales Appeal, Graphic Design, Innovation, Packaging Efficiency, Shelf Life, and Selling Feature. The awards will be given at the All-Industry Conference and National Hardware Show, May 9-11 in Las Vegas.

“It has always been evident to our MiTek associates and our customers that we take enormous pride in enabling strong sales for their businesses,” said Maged Diab, President of MiTek USA. “These NRHA national awards are indeed an honor, doubly so because they bring recognition to the efforts we have made to drive the success of our retailers and their customers.”

© 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.

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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.

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MiTek

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.

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Acquisitions MiTek

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.

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Acquisitions MiTek

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.

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MiTek

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.

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MiTek

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.