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Horizon North Logistics Closes Acquisition of Modular Construction Provider NRB Canada.

MANews-(C)2009-2019

4 April 2019 - Canada-based industrial services provider Horizon North Logistics Inc. (TSX: HNL) has closed the acquisition of Canada-based modular construction provider NRB Inc. to expand modular structures capabilities and expertise, the company said.

Horizon North purchased 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 company 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.

Country: Canada

Sector: Construction/Real Estate

Target: NRB Inc

Buyer: Horizon North Logistics Inc

Vendor:

Deal size in USD: 12.39m

Type: Corporate Acquisition

Financing: Cash and Stock

Status: Closed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:1CANA
Date:Apr 4, 2019
Words:202
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