CHESTERFIELD, Mo. -- (BUSINESS WIRE) -- MiTek Industries (MiTek®), a Berkshire Hathaway company (NYSE: BRK-A, NYSE: BRK-B), and the world’s leading supplier of advanced engineered structural connector systems, equipment, software and services for the building components industry, announced today that it has acquired Truss Industry Production Systems, Inc. (TIPS), the maker of the Wizard PDS system. The Wizard PDS system is a leading automated jigging system sold to component fabricators across North America.
“By acquiring TIPS, MiTek is able to offer more choices to the structural building components industry. Further, this acquisition will support the overall growth of our equipment offering in North America and the international markets,” stated Tom Manenti, Chairman and CEO of MiTek. “Clyde Fredrickson will continue to serve as the leader of the Wizard equipment line, and the entire TIPS team will remain with the company. TIPS will operate as a division of MiTek USA,” Manenti commented.
“We are excited to be part of the MiTek and Berkshire Hathaway team,” said TIPS’ Clyde Fredrickson. “MiTek’s unmatched sales and marketing team in North America and the international markets will help introduce the Wizard to many new prospective customers. We are also delighted that, along with MiTek, Eide Integrated Systems will continue to represent sales and marketing of Wizard, which has been instrumental in making the TIPS business a success.”
TIPS was founded in 2005 in Britton, South Dakota. Over the past 9 years, TIPS has grown substantially by delivering a highly engineered, sophisticated and robust automated jigging system to component fabricators across North America.
MiTek is based in Chesterfield, Missouri and is a diversified global supplier of engineered products, software and systems to the construction industry. The company has operations in over forty countries on six continents and has been a Berkshire Hathaway company since 2001. (NYSE: BRK-A, NYSE: BRK-B) More info: www.MiTek-US.com