IBT Forms Portfolio Company - Modern Distribution Management

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IBT Forms Portfolio Company

Distributor reorganizes to form parent organization Cumulus Companies; Jeff Cloud named president of IBT Industrial Solutions.
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IBT, Inc., Merriam, KS, has reorganized into a portfolio company, headed by parent organization Cumulus Companies and consisting of three business areas: industrial distribution, conveyance belting products, and aerospace parts manufacturing. The change was effective April 1.

Cumulus Companies is led by Michael Flannery, president and CEO, who reports to Chairman of the Board Stephen Cloud. As a result of the changes, Jeff Cloud was promoted to president of IBT Industrial Solutions, CCI’s largest company, also effective April 1. Flannery, who formerly served as president and CEO of IBT Industrial Solutions, will continue as the division’s CEO in addition to his new role at the helm of CCI.

 

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