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Innovative Modular Solutions

innovativemodular.com

Founded Year

1999

Stage

Acquired | Acquired

About Innovative Modular Solutions

Innovative Modular Solutions provides customer-driven building solutions to businesses in the educational, medical, governmental, commercial, and industrial markets by constructing temporary and permanent modular buildings. The company is based in Oswego, Illinois.On January 20th, 2021, Innovative Modular Solutions was acquired by VESTA Modular. The terms of the transaction were not disclosed.

Headquarters Location

155 Kirkland Circle Suite 500

Oswego, Illinois, 60543,

United States

630-972-0500

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Latest Innovative Modular Solutions News

Innovative Modular Solutions Announces Its Acquisition by VESTA Modular

Jan 22, 2021

News provided by Share this article OSWEGO, Ill., Jan. 21, 2021 /PRNewswire/ -- Innovative Modular Solutions ("IMS") today announced its acquisition by VESTA Modular in a transaction completed on Jan. 19, 2021. Financial terms of the transaction were not disclosed. Established in 1999, Innovative Modular Solutions has been dedicated to building high-quality modular buildings, including modular classrooms, modular offices and other commercial modular environments. IMS focused on providing customers with consistent, professional service. As a result, IMS has become one of the leading providers of modular buildings for temporary or permanent space throughout the Continental United States. IMS Co-Founder Pat Carmody will assume the role of VESTA's President of Operations, managing an aggressive growth initiative in the coming months and years. "This transaction will allow us to better serve customers while we execute our collective goal of remaining the go-to modular provider in North America," said Carmody. "Our teams are like-minded, customer-focused, and energized to continue our expansion initiatives together. "  "Partnering with IMS has been an ambition of ours for years and we are excited to be able to add their best-in-class team to our growing VESTA family," said VESTA CEO Dan McMurtrie. "Pat and his team will significantly increase our capabilities with their collective industry experience, which will be pivotal to our growth in the very near future." VESTA has executed a rapid growth strategy over the past 4 years and was named the fastest-growing construction company in the country by INC. 500 magazine in 2019. On Dec. 31, 2020, VESTA partnered with New York-based Kinderhook Industries, LLC to continue its growth initiatives. With this transaction, VESTA adds a strategic branch location in Elkhart, IN and approximately 600 units to its rental fleet. Customers of IMS will experience a seamless transition to VESTA as the companies integrate over the coming weeks. Greenberg Traurig and Kirkland & Ellis served as legal counsel to VESTA. Financing for the transaction was provided by a syndicate led by Flagstar Bank. About VESTA Modular Founded in 2014 and headquartered in Southfield, MI, VESTA is a leading provider of temporary and permanent modular space solutions across a diverse base of end markets and applications. The Company operates two divisions - (i) modular space leasing whereby it leases units from its owned fleet of over 3,800 units to customers across a range of end markets and (ii) modular project installation whereby it facilitates the design, construction, and installation of modular spaces. VESTA's core end markets include education, industrial, construction, government, municipalities, and retail sectors. In addition to its Southfield, MI headquarters, VESTA operates strategically-placed branches in some of the nation's fastest growing markets - Atlanta, Elkhart, Houston, and Miami. For more information, please visit: www.vestamodular.com About Kinderhook Industries Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages $3.3 billion of committed capital. We have made in excess of 250 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders. For more information, please visit:  www.kinderhook.com Pat Carmody | President of Operations  VESTA Modular

Innovative Modular Solutions Frequently Asked Questions (FAQ)

  • When was Innovative Modular Solutions founded?

    Innovative Modular Solutions was founded in 1999.

  • Where is Innovative Modular Solutions's headquarters?

    Innovative Modular Solutions's headquarters is located at 155 Kirkland Circle, Oswego.

  • What is Innovative Modular Solutions's latest funding round?

    Innovative Modular Solutions's latest funding round is Acquired.

  • Who are the investors of Innovative Modular Solutions?

    Investors of Innovative Modular Solutions include VESTA Modular.

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