CHILE – 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.

Tecverde is a Brazilian innovative building company specialized in wood-frame construction systems. The acquisition will enable both E2E and Tecverde to pursue their expansion plans. The completion of the deal is subject to the approval of the Brazilian Competition Authority (CADE) and other customary conditions.

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. Ten years later, with the support of private equity funds Global Environment Fund (GEF) and Performa Investimentos, 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-story buildings using wood-frame technology.