Nucor announces equity investment in Nexii

Key Takeaways:

• Nucor Corporation, a major steel producer, has made a strategic equity investment in Nexii Inc., a restructured version of a once high-flying Canadian prefab startup, signaling Nucor’s continued expansion into integrated construction solutions.
• After filing for creditor protection and being sold for just US$500,000 in early 2024, Nexii has been recapitalized by Texas-based 3 Gates Capital. The company has since resumed operations in British Columbia and is planning U.S. expansion, backed by $8 million in plant upgrades and rehiring of staff.
• Nexii is connected to national politics through Gregor Robertson, former Vancouver mayor and now Canada’s Housing Minister, who previously helped steer the company’s green building strategy as an executive.

The Whole Story:

Nucor Corporation has made an equity investment in Nexii Inc., a Dallas-based manufacturer of preabricated wall and roof systems for commercial and industrial buildings.

The investment was confirmed by Nexii CEO Audrey Pinkerton, who said it would support the company’s growth plans and product development efforts. Financial terms of the deal were not disclosed.

Nexii is the restructured successor to a Canadian startup of the same name, previously known for producing pre-manufactured panels for clients such as Walmart, McDonald’s, and Starbucks. Under new ownership, the company is expanding production capacity at its British Columbia facility and is planning to open a new U.S. plant.

Nucor, one of North America’s largest steel producers, has made several acquisitions in the building products sector in recent years. Its portfolio includes companies involved in data center infrastructure, insulated metal panels, and overhead doors. The Nexii investment aligns with Nucor’s ongoing push to provide integrated construction solutions to the non-residential market.

Nexii’s proprietary building system uses a fast-setting, low-carbon concrete shell around a steel and foam core. The company says the system is designed to reduce on-site labor, minimize construction waste, and improve energy efficiency.

Nexii was originally founded in 2019 in Moose Jaw, Saskatchewan, before relocating its headquarters to Vancouver. The company rose to prominence as one of Canada’s fastest-growing startups, achieving “unicorn” status in 2021 with a valuation exceeding US$1 billion just 31 months after its founding. By 2022, its valuation had reportedly reached as high as US$2 billion, fueled by significant investment rounds and rapid expansion plans, including projects with major clients like Walmart, McDonald’s, and Starbucks.

However, the company’s momentum began to stall under financial pressure. In early 2024, Nexii filed for creditor protection in British Columbia, revealing that it owed more than C$109 million to creditors. As part of the restructuring process, it sold off its subsidiary Omicron and laid off staff.

Later that year, Nexii’s assets were acquired by Texas-based 3 Gates Capital through a court-approved sale valued at around US$500,000, with 3 Gates also assuming more than C$20 million in liabilities. Under new ownership, the company was relaunched as Nexii Inc., with operations centralized in Dallas and plans to continue manufacturing out of British Columbia. By mid-2024, the new ownership group had invested $8 million into upgrading the company’s Squamish plant and rehired much of the original workforce.

Now recapitalized and restructured, Nexii is once again positioning itself as a key player in the prefabricated building materials sector.

The storied startup also has ties to national politics. Current Housing and Infrastructure Minister Gregor Robertson joined Nexii Building Solutions after leaving his decade-long tenure as Vancouver’s mayor, taking on the role of Executive Vice President of Strategy, Partnerships and Impact. In that capacity, he helped guide the green construction firm toward market growth and product innovation.

On April 28, 2025, Robertson won election as Liberal MP for Vancouver Fraserview–South Burnaby and, just weeks later on May 13, was appointed by Prime Minister Mark Carney as Canada’s Minister of Housing and Infrastructure, also overseeing Pacific Economic Development Canada.