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Horizon North Logistics to Acquire Modular Construction Provider NRB Canada
Thursday 14 March 2019

14 March 2019 - Canada-based industrial services provider Horizon North Logistics Inc. (TSX: HNL) has agreed to acquire Canada-based modular construction provider NRB Inc. to expand modular structures capabilities and expertise, the company said.

Horizon North has agreed to purchase all of the outstanding shares of NRB Canada for USD 16.5m, payable in a mix of common shares of Horizon North and cash.

The binding purchase agreement is subject to certain conditions, including the receipt of all necessary and required consents, including those from the Toronto Stock Exchange. The transaction is scheduled to close in early April 2019.

Horizon North said the integration of these two companies means the unification of products and expertise that lead the way in Canada's modular construction industry.

With this new base in Southern Ontario, Horizon North is leveraging the stability of our balance sheet to take the next step in the company's pan-Canadian growth strategy.

Horizon North provides a range of industrial, commercial, and residential products and services. 

The modular solutions business integrates modern design concepts and technology with off-site manufacturing processes to produce building solutions for commercial and residential offerings.

NRB Canada is a manufacturer of quality modular buildings and supplier of related products and services.
Date Published: 14/03/2019
Target: NRB Inc
Country: Canada
Deal Size: 12.39m (USD)
Sector: Construction/Real Estate
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Buyer: Horizon North Logistics Inc