Horizon North Logistics has completed a $4.75 million acquisition of Shelter Modular, a modular housing business based in Aldergrove, B.C.
The acquisition of Shelter Modular provides Horizon North with immediate manufacturing capacity to meet increasing demand in the Modular Solutions division, and provides exposure to future opportunities to grow the modular business.
“In addition to growing our manufacturing capacity, this acquisition also exposes Horizon North to future opportunities to grow modular business and gain additional market share,” says Rod Graham, president and CEO of Horizon North. “The facility’s location in lower mainland British Columbia means lower transportation costs and increased labour efficiency for existing municipal and provincial government clients in B.C., further enhancing our best in class service.”
Horizon North continues to execute on several contracts to provide modular housing solutions in the lower mainland for the Vancouver Affordable Housing Agency (VAHA) and across other centres in British Columbia for the BC Housing Management Commission (BC Housing).
The construction of modular housing is part of a commitment from the Government of British Columbia to build supportive homes for those struggling with homelessness. The province allocated $291 million in 2017 to support the construction of 2,000 modular housing units across various centres in British Columbia, and the 2018 provincial budget provides for substantial additional funding over the next three years to continue building affordable and student housing infrastructure.
“Adding this new manufacturing facility in Aldergrove to our existing facility on traditional Tk’emlúps te Secwe’pemc land in Kamloops positions us to build on our current successful projects with VAHA and BC Housing and provide a made-in-British-Columbia solution to support the efforts of these government agencies to introduce critically needed housing for vulnerable B.C. citizens,” adds Graham.