ATCO has agreed to acquire modular building manufacturer NRB for $40 million in cash.

If all goes according to plan, Calgary-based ATCO will make the acquisition through its ATCO Structures subsidiary. NRB manufactures modular industrial, educational and residential buildings.

ATCO announced the proposed acquisition in a news release.

“ATCO is excited about the opportunity to expand NRB’s modular business capabilities, particularly in the manufacturing of multi-family and affordable housing modular construction solutions,” said Adam Beattie, president of ATCO Structures. 

“There is no doubt that NRB has been a market leader in this space. We want to continue to build on this expertise, and we believe ATCO, a Canadian company that has pioneered the modular industry globally, is a fantastic complement to bring out the best in NRB’s future.”

NRB has about 400 employees and four manufacturing facilities across Canada, with two in Ontario and one each in B.C. and Alberta. The firm is a subsidiary of Mississauga, Ont.-based Dexterra Group, whose interests include facilities management and operations.

ATCO Structures has manufacturing facilities in Canada, the United States, Mexico, Chile and Australia. The company provides global turnkey permanent and temporary modular solutions for mobile offices, workforce housing, hotels, medical facilities, schools, multi- and single-family housing and other building types.

Photo: ATCO Structures