Cobourg, ON and Portland, OR – Arxx Building Products, a leader in the design, manufacturing, sales and distribution of energy-efficient insulated concrete forms (ICF) announces completion of a US$5.0 million venture loan from Toronto-based MMV Financial Inc. Arxx recently finalized a merger with Apex Construction Systems Inc., the manufacturer of an innovative recycled ICF block. The Company is committed to the development of leading-edge green building solutions for the rapidly expanding sustainable building market.
"Arxx will use this financing, along with recent equity investments from Element Partners, Nth Power and Emerald Technology Ventures to invest in production capacity for its ICF block product as well as sales and marketing,” said Frank O’Dea, Chief Executive Officer of Arxx. “MMV Financial quickly understood our value proposition in the green building market and we look forward to a long beneficial relationship with them.”
“We believe that Arxx represents an opportunity for MMV to invest in a well managed, integrated supplier of innovative energy-efficient building materials. Furthermore, the Company has been very successful in attracting leading cleantech venture investors,” said Greg Dimmer, Senior Vice President, MMV Financial Inc. “The Company is a clear leader in the green building products market which is seeing tremendous interest and explosive growth.”
About Arxx Building Products Inc.
Arxx® Building Products is a provider of green building envelope solutions that includes tested and certified Insulated Concrete Forms (ICF) for building walls and foundations. ARXX green building systems consist of ARXX forms, APEX™ recycled block, scaffold and alignment systems, waterproofing and accessories. ARXX products are used in commercial, residential and institutional construction applications to help make high-performance, sustainable buildings that are safe, healthy, comfortable and energy efficient. For more information please visit: http://www.arxxbuild.com/ .
About MMV Financial Inc.
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Quebec, HSBC, NewStar Financial Inc, and Wells Fargo Company. For more information visit: www.mmvf.com
Contacts:
Frank O’Dea
CEO
Arxx Building Products
(905) 373-0004
fodea@arxxwalls.com
Greg Dimmer
Senior Vice President
MMV Financial
(416) 977-9718
gdimmer@mmvf.com