Volumetric Building Companies and Polcom Group Complete Merger
PHILADELPHIA, PA -- Volumetric Building Companies (VBC), one of the United States' largest multifamily volumetric modular and components businesses, announced today that the company has merged with Polcom Group (Polcom), a premium steel modular building and custom furniture manufacturing conglomerate for the hospitality market. The deal will revolutionize the construction industry by combining VBC's innovative wood construction technology with Polcom's advanced steel modular system. The Polcom merger closely follows VBC's recent purchase of Katerra, Inc. assets, including their state-of-the-art manufacturing facility operations and offices in Tracy, CA.
The global company will be headquartered in the U.S. and led by Vaughan Buckley and his leadership team in Philadelphia. The firm delivers highly efficient and cost-effective construction projects with a lower environmental impact than any other solution on the market. The combined company will have more than 500 employees located in over 1.25 million square feet of manufacturing space located in 2 continents, with a pipeline of business in excess of $1 billion. Polcom, a new division of VBC, will continue to operate all of its current facilities after the merger, and expansion is expected.
"This is truly a game changer for our company and our sector. Polcom is an incredible complement to VBC's existing capabilities in design, manufacturing and construction services with a massive advantage in our geographic scope," said Vaughan Buckley, Chief Executive Officer of VBC. "Polcom is responsible for some of the most exciting and innovative hospitality construction in North America and Europe, including world class hotels in New York City, Seattle, London, Washington D.C. and Amsterdam. By joining forces, VBC's technology driven platform will now be capable of producing buildings from 3 to 35 stories in height, in both wood and steel, across a broader range of market segments and in multiple countries."
The merger highlights VBC's expertise in, and reputation for, innovation in the modular construction industry. VBC offers a vertically integrated wood volumetric modular process focused on the multifamily and Affordable Housing markets. VBC's platform will be enhanced when partnered with Polcom's depth of experience in steel modular systems, and their dominance in the hospitality space. The new company is set to become the leading provider of optimized, cost effective, sustainable solutions for resilient volumetric modular buildings around the world.
"While this merger expands our reach in market-rate multifamily construction, it also magnifies our efforts to address the needs of sophisticated general contractors and developers on multiple continents," said Buckley. "We are excited to be in a position to drive change and make more meaningful contributions to what has been an intractable problem for far too long."
Polcom provides bespoke steel modules that comply with local building codes in a wide variety of client-specific dimensions, fit-out specifications and different façade types. VBC's capabilities in design and productization of modular construction will result in a Design for Manufacturing and Assembly (DfMA) approach to Polcom's current offerings.
"This merger is a great opportunity for both companies to share our technical knowledge and R&D capabilities in modular construction," added Tomasz Modzelewski, CEO of Polcom. "Bringing together the engineering and execution experience of VBC with the steel framing expertise of Polcom will lead to more sophisticated modular solutions, enhanced delivery and shorter time to market. The entire Polcom team is thrilled with the opportunities that are ahead for serving markets all over the globe."
Volumetric Building Companies is a vertically integrated global volumetric modular construction leader headquartered in Philadelphia, PA with locations across the United States and now, in Europe. Utilizing their technology-enabled design and engineering model, precision-driven manufacturing capabilities, and project-proven modular construction expertise, the company's focus is on building the future by providing high quality, sustainably produced buildings in less time across varied market sectors.
Headquartered in Gdansk, Poland, Polcom is a leading international turn-key steel modular building manufacturer, with high-rise and custom buildings around the world. The company has a unique mix of modular and furniture production expertise with well-established business operations and a vertically integrated production system. Polcom has three manufacturing facilities in Poland for steel frame modules, furniture and modular fit-out. The company's clients include Citizen M, Marriott, Hilton, IHG, Kimpton and Accor along with other hospitality and multifamily developers.