CALGARY — The structures division of ATCO Ltd. has signed a deal to buy NRB Ltd., a maker of modular buildings, for $40 million in cash.
ATCO says the acquisition of NRB is part of its plan to expand its manufacturing, operations and sales footprint.
Adam Beattie, president of ATCO Structures, says the company is excited about the opportunity to expand NRB's modular business capabilities, particularly in the manufacturing of multi-family and affordable housing.
NRB has close to 400 employees and four manufacturing facilities across Canada.
The deal is expected to close near the end of July.
ATCO Structures has manufacturing facilities in Canada, the United States, Mexico, Chile and Australia.
This report by The Canadian Press was first published June 6, 2024.
Companies in this story: (TSX:ACO.X, TSX:ACO.Y)
The Canadian Press
