In April 2021, GISI closed its investment into Falkbuilt, an innovative Canadian company that offers interior modular/prefabricated components founded by industry pioneers with deep ties to STOBG leadership
The prefabrication construction market has been gaining popularity and increasing market share driven by a range of factors including speed to market, cost effectiveness, flexibility, reduced waste, and environmental benefits across multiple sectors. According to a 2019 McKinsey & Company Report, it is estimated that the modular construction industry could grow to $130B in size in the United States and Europe by 2030 and lead to $22B in savings annually
Falkbuilt is a privately held interior prefab/modular company with a prefab facility in Alberta and an international distribu-tion system mainly in the US and Canada. Falkbuilt operates namely in the Healthcare, Commercial/Office, and Education Sectors. Falkbuilt’s main products include office and confer-ence room walls and ceilings, bathroom modules for com-mercial office buildings, individual bathroom pods for hotel and hospital rooms, headwalls for hospital patient rooms, and even interior feature stairs. More than 50% of Falkbuilt’s backlog is in the United States. The Falkbuilt product includes next-gen technology in ECHO, a 100% owned, Revit-com-patible software product that allows architects to experience design changes in a cloud-based service on a real-time basis.
The company was started in 2019 by Mogens Smed and three interior construction/modular gurus who have successfully built and sold similar businesses. The team is supported by a deep group of leaders and approximately 200 employees.
Strategic benefits of Falkbuilt include:
- Cost competitive across multiple verticals and improves speed of construction.
- Factory-direct branch relationships provide focused end-to-end service.
- The system reduces waste from design, to manufacturing, to shipping, to installation.