Construction materials firm Nexii buys into building process, acquiring Omicron
A West Coast construction materials start-up is getting into the building business.
Nexii Building Solutions Inc. said July 8 it has acquired Omicron Canada Ltd., a vertically integrated firm with an in-house team that takes projects from development through both design and construction. Terms of the deal were not disclosed.
The purchase of Omicron will give Nexii a foothold in the construction process itself, a shift from its focus on supplying materials. The Vancouver-based company has been scaling up production at its new manufacturing plant in Squamish, B.C. and has recently signed licensing agreements for its green building products to be built at several other facilities in the U.S. and Canada. Its wall panels rely on a proprietary blend of materials it calls Nexiite, which perform similarly to concrete, but without requiring high-emissions cement.
Stephen Sidwell, the CEO of Nexii, said the deal is a “natural strategic evolution” of the two companies’ relationship. Omicron was an early investor in Nexii and the two firms have worked together on several projects, including a hotel in Nanaimo, B.C. for which Nexii is supplying 140 structural panels.
“Omicron and Nexii have been collaborating in several key areas of mutual interest for the last two years, with the shared aim to tackle the construction industry’s main challenge; how to change the way we build in the face of climate change,” Sidwell said in a release.
Despite the purchase, little will change at either company, Nexii said. Both businesses will retain their current leadership teams, offices and brands. Nexii expects to leverage the integrated project delivery expertise of the Omicron team to help build out its business.