CBJ's Largest Privately Held Companies 2018

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Modern Companies KEN BROWN CEO 11 Modern Companies has evolved and expanded across the region over the past seven decades as mergers and acquisitions have reshaped the firm, from its start as Modern Refrigeration in 1939 to Modern & Puth to Modern Piping in the 1960s. But it wasn’t until the turn of the 21st century that things really started to heat up for the company, according to CEO Ken Brown. “The early 2000s was really the beginning of our growth and expansion with the development of the Dubuque market and our entrance into the Minneapolis market when we were selected for a large biopharmaceutical project, the largest of its kind at the time,” Mr. Brown said. “This is really the beginning of the culture of the company where we look for opportunities that fit our skillsets. We have been expanding into different services and markets based on client requests, market conditions and new technologies for more than a decade.” Today, the Cedar Rapids-based fabricator counts 336 employees, including dozens stationed at offices in Des Moines, the Quad Cities, Dubuque, Minneapolis and Oklahoma City. Those outlying markets have helped fuel the company’s recent expansion, with revenues growing by more than 300 percent in Modern’s Des Moines office in 2017 alone, and Oklahoma City’s Mid-Continent Group – in which Modern Companies is a minority investor – seeing “tremendous growth” and contracts on specialty projects as far away as South Korea, Mr. Brown said. Modern Companies most recently acquired the service division assets of Johnson Contracting Co. in Moline, Illinois, giving it a better foothold in the western Illinois market. “The strategic acquisition allows us to better serve our current customers in the Quad Cities and increases our number of service technicians from 18 to 31, including Des Moines operations,” Mr. Brown said. “The Quad Cities is a larger market than Cedar Rapids, and we feel that it is underserved in our space.” Two of Modern’s newest divisions – Modern Compressed Air (MCA) and Modern Control Services (MCS) – are growing, too, Mr. Brown said. Modern Compressed Air supplies aluminum tubing and fittings for compressed air and inert gas distribution in addition to air compressors, dryers, hose reels and accessories. MCA also represents Powerex medical gas components for use in any medical gas delivery system. Modern Control Services represents building automation and analytics solutions from Siemens, Delta and CopperTree Analytics, in addition to building entry control and lighting control solutions, Mr. Brown said. The company is also pushing to develop its own technologies in the competitive construction industry. It last year launched FabPro LLC, a software company that has developed “the only solution for fabrication shop productivity tracking in the construction industry” and has other products under development, Mr. Brown noted. The company’s wide range of construction expertise and technologies has earned it a role in a number of high-profile Corridor projects, including the University of Iowa’s Stead THE TEAM EXECUTIVE TEAM Ken Brown, CEO Dave Brown, Director Matt Huber, CFO BOARD OF DIRECTORS Ken Brown Dave Brown Kristin White SUPPORT TEAM F&M Bank RSM US LLP Simmons Perrine Moyer Bergman PLC Family Children’s Hospital, the new Hancher Auditorium and the UI’s new Visual Arts Building. “Without the investments in virtual design construction and our fabrication facility in Cedar Rapids, we could have not completed these projects efficiently,” he said. Strategic partnerships are set to be a focus for Modern Companies in 2018, Mr. Brown said. The firm is working with other “like-minded” partners in Des Moines and Minneapolis, and plans to have agreements in place this year. It’s a logical evolution for a company that has grown through relationships and alignments with other firms, and is fighting hard to stay relevant in a rapidly changing industry. “I wouldn’t have thought five years ago we would be rounding out our services, looking into other opportunities and developing software,” he said. “The construction industry is moving faster than ever before.” - Jim Offner 26 CBJ’S LARGEST PRIVATELY HELD COMPANIES 2018
Largest Privately Held Companies (Ranked by 2017 Revenues) Largest Privately Held Companies (Ranked by 2017 Revenues) RANK Name/Address Contact Information Year Established Top Local Executives 2017 Revenue Number of Employees FT/PT 12 McComas-Lacina Construction 1310 Highland Court Iowa City, IA 52240 (319) 338-1125; fax (319) 338-5964 www.mccomaslacina.com 1977 Mike Hahn Al Morelock $92,000,000 155 - -/- - 13 HR Green Inc. 8710 Earhart Lane SW Cedar Rapids, IA 52404 (800) 728-7805 (319) 841-4000; fax (319) 841-4012 www.hrgreen.com 1913 Steven Heyer Richard White Michelle Byard $86,700,000 436 385/51 14 The Accel Group LLC 3100 Oakland Road NE Cedar Rapids, IA 52402 (800) 765-8611 (319) 365-8611; fax (319) 365-6919 www.acceladvantage.com 1928 Tim Gassmann Mike Byl Kevin Mease $86,500,000 75 73/2 15 Acumen 425 Second St., Ste. 1275 Cedar Rapids, IA 52401 (319) 731-0500; fax (319) 366-3636 www.acumenadv.com 2012 Andrew Morf Kirby Moss $85,000,000B 39 - -/- - 16 Folience 230 Second St. SE, Ste. 100 Cedar Rapids, IA 52401 (800) 397-8333 (319) 200-2800 www.folience.com 1884 Daniel Goldstein Cathy Terukina $78,400,000 509 - -/- - 17 Ready Wireless 955 Kacena Road, Ste. A Hiawatha, IA 52233 (800) 516-0414 (319) 294-6080; fax (319) 294-6081 www.readymobile.com 2005 Dennis Henderson Fred Haumesser Scott Kokotan $71,400,000 135 132/3 18 Pancheros 2475 Coral Ct. Ste. B Coralville, IA 52241 (319) 545-6565; fax (319) 545-6570 www.pancheros.com 1992 Rodney Anderson $69,000,000 222 - -/- - 19 Shive-Hattery Architecture & Engineering 316 Second St. SE., Ste. 500 Cedar Rapids, IA 52401 (800) 798-0313 (319) 362-0313; fax (319) 364-2883 www.shive-hattery.com/ 1895 James Lee Shawn Lueth Phil Larson $58,700,000 380 346/34 20 Collins Community Credit Union 1150 42nd St. NE Cedar Rapids, IA 52402 (800) 475-1150 (319) 393-9000; fax (319) 378-3399 www.collinscu.org 1940 Stefanie Rupert Benjamin Wickum $57,600,000 301 293/8 21 BerganKDV 2720 First Ave. NE, Ste. 300C Cedar Rapids, IA 52402 (800) 741-7087 (319) 294-8000; fax (319) 294-9003 www.bergankdv.com 1945D Loren Viere Vince Ellison Cori Power Brittani Von Roden $52,100,000 355 347/8 22 Involta 460 12th Ave. SE, Ste. 100 Cedar Rapids, IA 52401 (855) 364-3061 (319) 261-3008; fax (319) 362-1046 www.involta.com 2007 Bruce Lehrman Jim Buie Ken Kremer $47,500,000 198 - -/- - 23 Ohnward Bancshares Inc. 665 Marion Blvd. Marion, IA 52302 (319) 373-1371 www.ohnwardbank.com 2009E Abram Tubbs Kevin King $47,200,000 261 - -/- - 24 CEC (Communications Engineering Company) 405 Boyson Road Hiawatha, IA 52233 (800) 377-0271 (319) 294-9000; fax (319) 395-6096 www.cecinfo.com 1946 Jim Smith Matt Dlouhy $42,000,000 250 - -/- - Note: Entries may be edited for length and clarity.B Revenue includes premiums C Other location: 2530 Corridor Way Ste. 301; Coralville, IA 52241 D Merger in 2015 created BerganKDV E Ohnward Bancshares, Inc. was formed in 1967 CBJ’S LARGEST PRIVATELY HELD COMPANIES 2018 27
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CBJ's Largest Privately Held Companies 2018

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