NEXII to expand, restructure
NEXII has completed the acquisition of Nexii Building Solutions’ assets under the authority of the Canadian court in late June, setting the stage for the company's relaunch.
NEXII specializes in precision-manufactured structural wall and roof panel systems for the building industry, which are designed to address 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, according to the company. Leading multinational companies like Walmart, Chase Bank, AECOM and Starbucks have used NEXII’s panels.
Russ Lambert, a principal with 3 Gates, said: “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 has retained many of its current employees and is investing C$8 million into retrofitting the flagship Squamish, B.C., 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-based construction executive, has been appointed as the bridge CEO to oversee the restructuring and expansion of NEXII. Tucker will later transition to the board of directors as the Canadian representative. 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.” 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.
