OKANAGAN FALLS, BC, May 5, 2016 /CNW/ - Karoleena, the award-winning designer prefab home building company based in Okanagan Falls, British Columbia, is thrilled to announce its acquisition by Horizon North Logistics Inc. ("Horizon North") (TSX:HNL).
The acquisition of Karoleena by Horizon North is a strategic move expected to accelerate growth of modern modular opportunities throughout Western Canada.
"We have worked tirelessly and are very proud of what we've been able to accomplish with Karoleena. We have pioneered in the industry and this decision was an easy one, because we are confident it will allow Karoleena to reach its full potential." said Kurt Goodjohn, Co-Founder and CMO of Karoleena.
Preliminary objectives for the combined companies include the development and implementation of a full line of Designer Prefab structures including homes, multi-family residential, retail and commercial buildings to serve the growing need for a viable alternative to site construction.
"We had set out a plan for Karoleena which included the goal to become saleable and scaleable by 2016, and this transaction signals not only the fulfillment of that plan but is also the catalyst to truly achieve scalability and continued market leadership." said James Rosowsky, CEO.
While coming from different markets, both organizations have numerous similarities including, among others, belief in modular building, a full service mentality, strong brands and a focus on customers and quality.
The combination of these two organizations will create new synergies that do not otherwise exist in modular building market. Horizon North brings with it a world class team, access to public markets, manufacturing excellence, and an unparalleled quality, health and safety program. Karoleena brings an innovative product approach, a startup culture and an excellent understanding of the marketplace and buyer mentality outside of Horizon North's traditional customer base.
"The construction industry is ripe for change and we are excited to infuse our brand, culture and style into the Horizon North model to ultimately deliver that change. This is an exciting transaction that will result in a one of a kind offering, being a broad range of modern modular solutions and a real ability to deliver." said Kris Goodjohn, Co-Founder and CPO.
Karoleena is an innovative, exciting and leading full service prefab and modular manufacturing business. With in-house design, engineering and project management staff, our company has created a culture that turns home building on its head. We feature industry leading modern designs and utilize premium materials and finishes. Our products are manufactured using lean methods and we offer reduced timeframes and eco-friendly building methods. Our objective is to offer an unparalleled customer experience in a corporate culture where people love to work.
For more information about Karoleena please visit our website at www.karoleena.com
About Horizon North
Horizon North is a publicly-traded company (TSX: HNL.TO) that provides full service solutions in camp management accommodations and catering, matting and soil stabilization, remote power and energy generation systems, and relocatable and permanent modular structures. Horizon North provides a full range of these services to top tier clients in the LNG, oil sands, oil and gas, energy, mining/exploration, forestry and construction sectors. As a result of our diverse product and service offerings, Horizon North is uniquely positioned to meet the needs of our customers anywhere in Canada and Alaska.
For more information about Horizon North please visit our website at www.horizonnorth.ca
SOURCE Karoleena Inc.
For further information: Media Contact: Kurt Goodjohn, 604-358-4272, [email protected]