MERRIAM, KS — IBT, Inc. creates new parent entity and announces key organizational changes to support current and future growth demands.
IBT, Inc. has announced that effective April 1st, 2018, key changes to both its business entity structure and associated organizational leadership responsibilities, will take place. Mike Flannery, IBT’s President and CEO since 2015, commented, “As our business portfolio has grown, so have the demands to scale up our management focus and desire to accelerate growth, both organically and through increased acquisitions. To support these growth demands, beginning April 1st of this year, our portfolio company will be formally recognized as Cumulus Companies, Inc. (CCI).”
Cumulus Companies, Inc. will be defined by four separate companies within three growth platforms; industrial distribution, conveyance belting products, and aerospace parts manufacturing. Cumulus Companies Inc. will be led by Mike Flannery, President and CEO. Mike will report to the company’s Board of Directors headed up by Stephen Cloud who serves as Chairman.
As a result of the above changes, the company is pleased to announce that also on April 1st, 2018, Jeff Cloud will be promoted to the President role for IBT Industrial Solutions, CCI’s largest company, and will report to Mike Flannery, who, in addition to his CCI responsibilities will continue to serve as IBT Industrial Solutions’ CEO. Flannery indicated “This is not only a key step forward and upward for Jeff, but is also a historic step for the Cloud Family.” Jeff Cloud plans to continue his family’s 69-year ownership of the company, which was founded by his grandfather, Forrest L. Cloud, in 1949. “I’m proud of Jeff taking on this opportunity to help IBT move toward a third generation of ownership by our family,” said Stephen Cloud, current owner and Chairman of the Board. Previously, Jeff has served the company in field sales, Regional Management and most recently, V.P., Marketing.
About IBT Industrial Solutions
IBT Industrial Solutions is a leading, full-service industrial supplier. Since 1949, IBT has been helping customers maintain efficient, productive, and safe workplace facilities through quality industrial MRO supplies, products, and services. Top-notch industrial expertise and superior customer service set IBT apart. IBT has nearly 40 stocking locations throughout the United States, and is headquartered in the Kansas City suburb of Merriam, Kansas.
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