SG Blocks, Inc., a designer, and fabricator of container/modular-based structures, has entered into an agreement to acquire substantially all of the assets of ECHO DCL, in a cash and stock transaction
SG Echo has obtained a right of first refusal to acquire the real estate holdings.
ECHO DCL is a container/modular manufacturer and current supplier to SG Blocks based in Durant, Oklahoma specializing in the design and construction of permanent modular and temporary modular buildings.
“ECHO has been a most reliable supply chain partner, and their commitment to quality products is what first put them on our radar,” said Paul Galvin, Chairman and CEO of SG Blocks. “This acquisition offers us an opportunity to vertically integrate a large portion of our cost of goods sold, as well as increase margins, productivity and efficiency in the areas of design, estimating, manufacturing and delivery.”
ECHO current projects with SG Blocks include a $4 million boutique, mixed-use hospitality development in the Everglades, which was approved for fabrication in July 2020. SG Blocks’ acquisition of ECHO DCL will also service the D-Tec orders addressing Covid-19, as well as the educational and medical suite of offerings previously announced with Grimshaw Architects.
Since inception, ECHO DCL has catered to meet the space needs of major markets, including military, education, administration facilities, health care, government, commercial and residential manufacturing. Some of the locations where ECHO DCL or its predecessors have previously executed various modular and prefab construction projects include Arizona, California, Florida, Hawaii, Illinois, Texas, and Washington, D.C.
“We’ve enjoyed working closely with SG Blocks in the past and look forward to an even stronger and more longstanding partnership to come,” said Chris Jarrard, ECHO President. “Our missions completely align as far as offering the customers we serve the best possible quality of modular structures, be it in the hospitality sector or other industries turning to container-based solutions.”