SG Blocks Establishes Alliance with Sequential Modular Partners
New Minority-Owned and Managed Company to Develop Commercial, Military and Government Modular Solutions
BROOKLYN, N.Y.--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator and fabricator of container-based structures, announced it has established a strategic partnership with Sequential Modular Partners. The new minority-owned and managed company will deliver integrated modular solutions to Fortune 500 companies, local, state and federal agencies and the U.S. military. SG Blocks will be the exclusive product supplier to Sequential, which will be based in Dallas, Texas.
The majority partners of the joint venture are Wayne Lawrence, Tim Brown and Pinnacle Design Group. SG Blocks will have a minority interest in the company. Lawrence is CEO of Sequential Modular Partners and has over 30 years of experience in the modular construction sector. He has built an enviable track record of customer relationships during his career. Brown, NFL Hall of Famer and Heisman Trophy winner, has agreed to join the Sequential team and will work closely with Wayne in establishing quality client relationships all over the country. Pinnacle Design Group, located in Norman, Oklahoma, has over 25 years of specialized multi-disciplined design/build experience in government contracting, multi-family, hospitality, commercial and sustainable projects.
“This a significant milestone for SG Blocks as we continue to increase our footprint on both a national and international scale,” stated Paul Galvin, Chairman and CEO of SG Blocks. “We are partnering with some of the foremost leaders both in business and athletics to bring our product to new markets and industries. This will grant us access to public, private and hybrid bidding opportunities as well as new opportunities with the federal set aside business. Sequential Modular Partners represents our corporate values and desire to spread opportunities via modular, sustainable construction.”
“We believe that modular construction is the future of the industry and are thrilled to be embarking on this venture with SG Blocks, the foremost innovator of container-based development,” stated Lawrence.
“Sustainable, efficient construction is important to me and I look forward to working with Paul and Lawrence to ensure that our new endeavor is going to be a success across the globe,” stated Brown.
SG Blocks utilizes code-engineered cargo shipping containers to construct and provide safe, durable and environmentally-friendly structures. Its product exceeds many standard building code requirements, and supports developers, architects, builders and owners in achieving a more efficient, green method of construction. Additionally, SG Blocks was granted the first ESR by the International Code Council that ensures its ability to meet and exceed all international building codes. Clients have included Starbucks, Marriott, Taco Bell, Aman, Equinox and several branches of the U.S. military.
Recent projects include an architect and engineering services contract for a 27,000 square-foot affordable housing project on the West Coast; a nearly 24,000 square-foot community arts and recreation center for the Heart of Los Angeles, a nonprofit offering underserved children outstanding programs in the arts, academics and athletics; a 6,000-square-foot retail project at Gather GVL, an eco-friendly food and beverage venue in Greenville, South Carolina; and a 19,940 square-foot athletic facility in West Africa.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in SG Blocks' filings with the Securities and Exchange Commission. Thus, actual results could be materially different. SG Blocks expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Source: SG Blocks, Inc.
Released September 21, 2018