E2E, a Chile-based joint venture founded by Etex, an international building materials specialist, and Arauco, a diversified global company active in the forestry industry, has signed a share purchase agreement to acquire a majority stake in Tecverde Engenharia, a Brazilian innovative building company specialised in wood-frame construction systems.The acquisition will enable both E2E and Tecverde to pursue their expansion plans.
Tecverde was established in Curitiba, Brazil, in 2009 by a group of young entrepreneurs who were seeking to disrupt and transform the civil construction industry in a sustainable, scalable way. Tecverde is a strong and respected player in wood-based framing technology in Latin America. It employs 250 people and has a production capacity of 3,500 houses per year. The company forecasts to double its revenues in 2019.
The company’s innovative wood-frame construction systems allow for nearly a full building to be fabricated in a climate-controlled factory and completed with the installation of wall panels during final assembly at the construction site. Tecverde delivers increased efficiency to the construction industry by significantly reducing construction time, materials, carbon emissions and cost. Its systems have allowed the company to win several major innovation prizes and obtain construction approvals for four-storey buildings using wood-frame technology.
Upon completion of the deal, E2E will have a majority stake in Tecverde by acquiring all shares owned by GEF, Performa and other non-executive shareholders. The remaining shares will remain in the hands of the executive founders, who will continue to be part of the company’s management.
E2E’s investment will both support Tecverde’s growth plan and enable E2E to break new ground in the construction industry of Brazil. By combining their strengths and know-how, both companies are now aiming to grow further in the Brazilian market. All parties share the same goal: to transform the way people live and build by bringing productivity, innovation and sustainability to the sector.
Etex is an international building materials specialist.
Arauco manufactures a wide range of sustainable forest product solutions, including the industry’s most-comprehensive selection of composite panels, premium plywood, millwork, bioenergy, lumber and wood pulp.
