EHT to acquire modular housing manufacturer EVIA

Cash and stock deal worth $46.7 million.

TORONTO — Enerdynamic Hybrid Technologies Corp. has entered into a non-binding letter of intent to acquire EVIA Finance S.A.R.L., a manufacturer and installer of modular housing units, container units and truck/trailer units, in a cash and stock deal worth $46.7 million.

EVIA is headquartered in Luxembourg and had for 2014 consolidated revenues of $28 million.

It supplies the US government with energy efficient housing units and has established business in modular home and container unit sales.

The proposed acquisition is conditional on, among other things, completion of satisfactory due diligence, entry into of a definitive binding share purchase agreement, audited financial statements, completion of the previously announced debenture financing and TSX Venture Exchange approval.

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