Horizon North Logistics Inc. Announces Completion of Strategic Acquisition of NRB Inc.
CALGARY, April 1, 2019 /PRNewswire/ - Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) announced today that the Corporation has completed its previously announced acquisition (the "Acquisition") of NRB Inc. ("NRB")
The previously-announced Acquisition of NRB, a full-service modular construction provider based in Grimsby, Ontario, has been completed. "The integration of these two companies leverages the stability of our balance sheet to immediately provide Horizon North with manufacturing capacity in Southern Ontario, a significant next step in our pan-Canadian growth strategy," says Rod Graham, President and Chief Executive Officer of Horizon North. "Like our locations in Kamloops, Aldergrove and Calgary, the NRB facility is strategically located near major transportation routes and a diverse labour pool. That location, coupled with an expanded product portfolio and the unified expertise of our two teams, should have us well-situated to provide industry-leading, turn-key modular solutions across the country."
"The expansion of our product portfolio is a key aspect to this integration and Horizon North believes it is well-positioned to capture multiple end markets in modular construction," says Joseph Kiss, President of Horizon North's Modular Solutions business. "Horizon North's expertise in wood-frame modular structures will expand east, providing solutions for affordable social, student, senior and First Nations housing, in addition to hotels, commercial space and single and multi-family homes. At the same time, NRB's expertise in steel-frame, non-combustible modular structures will expand west, including facilities for health care, recreation, and education purposes, as well as retail, hospitality and utilities structures."
"2019 marks our fortieth year in business and we look forward to the next chapter of NRB's journey with Horizon North," say Bob and Craig McNeil of NRB. "This integration will expand our capabilities and expertise and introduce the brand to customers across Canada, meaning continued employment for those who are part of our NRB family. For the past 40 years, we have been guided by values of teamwork, professionalism, innovation and integrity, and those commitments to customers will not change."