MiTek Acquires Kova Solutions, LLC


MiTek Acquires Kova Solutions, LLC

CHESTERFIELD, Mo.--(BUSINESS WIRE)-- MiTek Industries, Inc. (MiTek®), a Berkshire Hathaway company (NYSE: BRK-A, NYSE: BRK-B), and the world's leading supplier of advanced engineered structural connector systems, software, equipment and services for the building components industry announced today that it has acquired Kova Solutions, LLC. Kova offers business process and operational management software for residential production builders that integrates and controls the entire business operations with one complete end-to-end system.

"The addition of Kova expands MiTek's software offering very effectively into the builder side of the residential construction market. Kova is a complement to our current SAPPHIRE™ software offering and a key addition to the MiTek family," stated Tom Manenti, Chairman and CEO of MiTek. "Jouko Väkiparta will continue to lead Kova, and the entire Kova team will remain with MiTek. Kova will operate as a separate subsidiary of MiTek," Manenti commented.

"We are truly excited to be part of MiTek and Berkshire Hathaway," said Jouko Väkiparta. "We have worked very closely with MiTek for the last five years with great success. The financial strength and market position of MiTek will allow us to extend our capabilities to offer this truly unique solution to even more residential building companies."

Founded in 2005, Kova enables production builders and manufactured housing companies to seamlessly integrate - in one unified system - sales, design, bidding, purchasing, estimating, scheduling, change-order management, customer service, warranty and accounting. It is currently being utilized by several publicly held U.S. production builders today.

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)

For MiTek
John D. Wagner, 919-796-9984
For Kova
Chris Hollander, 314-851-7508

KEYWORDS: United States North America Missouri


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