Dexterra Group Announces Sale of NRB Modular Solutions

Press Release

June 06, 2024

Toronto, Ontario- – Dexterra Group Inc. (TSX: DXT) (“Dexterra” or the “Company”) announces the signing of a purchase agreement for the sale of its NRB Modular business (“NRB”), a leading provider of modular building solutions, to ATCO Structures & Logistics Ltd. (“ATCO Structures”) for a purchase price of $40 million, payable in cash and subject to normal closing adjustments and conditions including clearance under the Competition Act (Canada).

The sale of NRB simplifies Dexterra’s business, allows management to focus on our core support services offerings, and pay down debt. The transaction is expected to close near the end of July 2024.

“We wish the NRB team all the best as they begin a new chapter under ATCO’s leadership and we are confident they will continue to deliver quality modular products and projects to their valued clients,” said Mark Becker, CEO of Dexterra.

“ATCO Structures 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. 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,” said Adam Beattie, President of ATCO Structures.

NRB has been a trusted name in the offsite building industry for 45 years and has grown into one of the largest modular building solutions providers in Canada.

About Dexterra

Dexterra employs more than 8,500 people, delivering a range of support services for the creation, management, and operation of infrastructure across Canada.

Powered by people, Dexterra brings best-in-class regional expertise to every challenge and delivers innovative solutions, giving clients confidence in their day-to-day operations. Activities include a comprehensive range of integrated facilities management services, industry leading workforce accommodation solutions, innovative modular building capabilities, and other support services for diverse clients in the public and private sectors.

For further information contact:

Denise Achonu, CFO
Head office: Airway Centre, 5915 Airport Rd., 4th Floor Mississauga, Ontario L4V 1T1
Telephone: (905) 270-1964

You can also visit our website at dexterra.com.

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