Nexii, a Canadian manufacturer of prefabricated buildings and structures, has announced that it is being acquired by a consortium led by its own senior management, including several Canadian entities, for USD 3 million. This acquisition comes after Nexii filed for creditor protection due to its financial difficulties.
Following the acquisition, it is expected that the buying consortium, already familiar with Nexii's business, will continue to work on existing contracts and maintain the company's operations. Moreover, the court-appointed monitor has also sought an extension of the creditor protection to facilitate the closing of the transaction.
Notably, the company is excluding a portion of assets, including several contracts, from the sale. It is reportedly in discussion with several parties who have expressed interest in acquiring the remaining assets.
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