Volumetric Building Companies (VBC), the Philadelphia PA-based modular builder, is in the final stages of a completing a $25-million bankruptcy acquisition of Katerra’s former Tracy, California headquarters. VBC has been selected as the final bidder in a deal that will ultimately bring $60 million of manufacturing equipment that includes production lines for windows, cabinetry, trusses, and wall panels into the portfolio of the VBC Manufacturing division, which builds modular units for multifamily housing projects. The purchase could close as early as August 12, 2021.
In commenting on the soon to be completed acquisition, Vaughn Buckley, VBC’s chief executive officer said, “We’re seeing this as an opportunity for us to service our fellow modular factories around the country whether that is within the Modular Mobilization Coalition,” a network of modular companies, including VBC, that joined forces last year to design modular units to relieve hospital capacity strain early during the pandemic and then repurposed as an alternative housing solution, “or outside with lower lead time, higher quality, and more conducive to modular manufacturing.” Buckley added, “We understand the needs of modular manufacturers around the country, and if we can get their windows down from a 23-week lead time to a three-week lead time while maintaining cost and quality, think of what that can do for our partners right now that are really struggling to get product out.”
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Modular Builder VBC On the Verge of $25-Million Buy for Katerra Assets