VANCOUVER, British Columbia, July 30, 2024 (GLOBE NEWSWIRE) -- NEXII Inc., (NEXII) has completed the acquisition of Nexii Building Solutions’ assets under the authority of the Canadian court on June 28, 2024, setting the stage for the relaunch of NEXII’s state of the art products.
NEXII specializes in precision-manufactured structural wall and roof panel systems for the building industry, addressing rising construction costs, the demand for shorter schedules, and the need for a reduced carbon footprint. NEXII’s technology accelerates construction timelines and reduces the carbon footprint to a third of that produced by traditional concrete walls. Leading multinational companies such as Walmart, Chase Bank, AECOM, and Starbucks have used NEXII’s panels, known for their durability, energy savings, and efficient installation.
Russ Lambert, a principal with 3 Gates, noted that, “NEXII’s construction techniques are truly superior in every way to conventional methods. We believe that with the relaunch, the restructured NEXII will be a very successful North American tech success story – NEXII is a winner.”
NEXII has retained many of its current employees and is investing C$8 million into retrofitting the flagship Squamish, BC (Canada) manufacturing plant to enhance its production capacity, quality, and safety.
Blake Beckham, another principal with 3 Gates, said “We were immediately impressed with the quality and commitment of the Squamish workforce, and it was an easy decision to remain there and continue to invest in the plant, with plans to upgrade and expand operations. Both the Canadian workforce and the Squamish plant are crucial elements of our goal to create high quality, environmentally friendly buildings throughout North America.”
Bill Tucker, a Vancouver, BC-based construction executive, has been appointed as the bridge CEO to oversee the restructuring and expansion of NEXII. Mr. Tucker will later transition to the Board of Directors as the Canadian representative. Mr. Tucker commented, “I am pleased to be a part of this important effort to restructure and expand NEXII. Our collective vision is to build a profitable company driving impactful change in carbon reduction and schedule enhancement in the North American construction industry.” Mr. Tucker noted that operations transitioned from the old company to NEXII, Inc. on July 24, 2024.
The Buyer's principals, based in Dallas, Texas, are experienced in restructuring and distressed workouts. These Principals have the experience and expertise necessary to foster an environment for NEXII to thrive and grow into a powerful force in the North American construction industry.
About NEXII:
NEXII Inc. designs and manufactures rapid-assembly buildings that address rising construction costs, the demand for shorter schedules, and the need for a reduced carbon footprint. Utilizing its proprietary material, Nexiite, NEXII is transforming the construction industry by challenging traditional practices with a focus on technology, innovation, service integration, and sustainable building solutions. NEXII facilitates the rapid assembly of high-quality buildings with reduced carbon emissions, near-zero waste, and minimal community disruption. Speed, quality, and sustainability are central to NEXII's mission to create a vibrant future for clients and the planet.
