Star Equity Holdings’ Subsidiary, KBS Builders, Secures Two Major Commercial Contracts in Maine
Old Greenwich, CT – March 4, 2025 – Star Equity Holdings, Inc. (Nasdaq: STRR, STRRP) (“Star” or the “Company”), a leading diversified holding company, is pleased to announce that its wholly-owned subsidiary, KBS Builders, Inc. (“KBS”), has successfully secured two significant commercial contracts to manufacture housing units in the state of Maine. These contracts mark a significant milestone for KBS as they expand their footprint in the New England region.
Background on KBS Builders
KBS Builders, Inc., a Star Equity Holdings company, is a recognized leader in the modular housing industry. With a strong commitment to quality and innovation, KBS specializes in designing, manufacturing, and delivering custom-built modular homes and commercial structures. Their state-of-the-art manufacturing facilities in Connecticut and New York enable them to produce high-quality, energy-efficient buildings at an unmatched speed and cost-effectiveness.
The Two Commercial Contracts
The first contract, worth over $20 million, is with a leading housing developer in Maine. This partnership will result in the production and delivery of 150 multi-family units, which will cater to the growing demand for affordable and sustainable housing solutions in the region. The second contract, valued at over $15 million, is with a major construction company based in New England. This agreement includes the manufacture and delivery of 75 custom-designed modular office buildings for a large commercial project.
Impact on the Local Community and Economy
These contracts are not only a testament to KBS’s expertise and reputation in the industry but also bring several benefits to the local community and economy. The increased production volume will lead to the creation of new jobs in Maine, both at the construction sites and at KBS’s manufacturing facilities. Additionally, these housing units and commercial buildings will contribute to the ongoing revitalization efforts in the area, providing much-needed affordable housing and modern office spaces for local businesses.
Global Implications
The success of KBS Builders in securing these contracts in Maine highlights the growing demand for modular housing and commercial structures in various regions. The modular construction industry is expected to experience substantial growth in the coming years, driven by factors such as increasing urbanization, a need for energy-efficient and cost-effective solutions, and a focus on sustainable building practices. As a result, companies like Star Equity Holdings and its subsidiary, KBS Builders, are well-positioned to capitalize on this trend and contribute to the global shift towards more innovative and sustainable construction methods.
Conclusion
Star Equity Holdings’ subsidiary, KBS Builders, has made significant strides in the modular housing and commercial construction industry by securing two major contracts in Maine. These partnerships not only strengthen KBS’s presence in the New England region but also contribute to the local community’s development by creating jobs and providing affordable housing and modern office spaces. Moreover, the growing demand for modular construction solutions presents a promising opportunity for the industry as a whole, with Star Equity Holdings and KBS Builders poised to lead the charge towards more innovative, cost-effective, and sustainable building practices.
As we look to the future, it is clear that the modular construction industry will play an increasingly important role in addressing the world’s housing and commercial space needs. Star Equity Holdings and KBS Builders are at the forefront of this trend, and their continued success is a testament to their commitment to delivering high-quality, custom-built solutions that meet the evolving demands of their clients and the industry.
