DRTTF
Industry:
Capital Goods

DESCRIPTION

DIRTT designs and manufactures prefabricated interior construction systems — walls, doors, casework, electrical, and network infrastructure — used to build and renovate commercial interior spaces. Customers include corporate office tenants, hospitals, schools, and government agencies. DIRTT's core pitch is speed, cost certainty, and adaptability: components are manufactured off-site and assembled on-site, and the system is designed for disassembly and reconfiguration, so clients can update a space without a full demolition and rebuild. DIRTT sells primarily through a network of 66 independent Construction Partners across North America, who act as specialty subcontractors, handling sales, installation, and reconfiguration support. In 2024, DIRTT also launched an internal Construction Services team to reach smaller markets and sectors not covered by the partner network. DIRTT's ICE Software is central to the business — it allows partners and clients to design, visualize, price, and order in one integrated platform that connects directly to DIRTT's manufacturing systems. ICE is licensed to Construction Partners and third parties, including Armstrong World Industries, which paid $11M for a co-ownership interest in a portion of the ICE code in 2023. DIRTT manufactures at facilities in Calgary and Savannah, Georgia. The business has meaningful operating leverage, as a significant portion of manufacturing costs are fixed. Revenue is seasonal, with Q1 typically the weakest and H2 generally stronger.

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