Bergamo Acquisition CEO Hillard Herzog started off in the clothing business. But during his travels to the Far East, Herzog found himself interested in something far more fundamental than apparel. It was during those overseas travels that he was exposed to the energy shortages in third-world countries of the Far East and eventually took his company in another direction with a focus on green energy, solar energy, and water conservation in underdeveloped countries such as India and Pakistan.
Herzog later was introduced to a large public solar energy company and formed an association in the Far East to address the region’s energy plights. Now, Bergamo is a Henderson, Nevada-based global investor pursuing opportunities for sole acquisition and co-investment alongside other investors, such as private equity funds, hedge funds, investment banks, and other institutions. The company has affiliate offices in Europe and Asia.
In regards to project development in these areas, Herzog says the main challenge is getting foreign investors to bring their money into the United States amid tightened regulation and a daunting tax structure.
Hillard saw this challenge as an opportunity and approached investment partners outside the United States with the proposition of a financial structure that would allow them to invest in the development of renewable energy projects. Bergamo’s solution is to acquire an established company with a proven track record in, say Europe, and structure that entity as a holding company that can invest in the United States on an equitable tax-free basis.
Fast-forward to-date and Bergamo has done just that. Bergamo’s financial partners include top multi-national corporations and government organizations. The company sources and provides equipment, develops technology, and offers turnkey solutions to developers, utilities, water districts, power plant owners, and industrial customers.
In conjunction with its 60% owned subsidiary located in Miami, the company has developed a Solar Generator for homes, apartment buildings, and airports. The company also offers a solar-operated tube well water pumping system equipped with universal invertors that enable existing pumps running on electric power to run on solar power. The company’s team is working to introduce this product in areas with over-stressed energy grids, such as Asia, Africa, and the Middle East.
In May 2012 Bergamo acquired a 100% stake in a European entity for its investing strategies utilizing the EURO currency. This European facility acquires small, undercapitalized companies and banks in the United States.
Bergamo keeps the names and locations of its subsidiaries hush hush, per non-disclosure agreements, but it’s something the CEO says he’s working to change. The company’s subsidiaries prefer anonymity to stay away from the attention and scrutiny in the United States since they are providing equity money, not lending money, though Herzog said he is working to substantiate the company’s financial statements.
“My concern is … to prove to our shareholders that our stock is very undervalued and prove to them that they’ve made a proper investment and reward them for what they’ve done in terms of confidence in investing in our company and in myself personally. It’s my job to see to it that each and every shareholder, including myself and any of my associates and any of our foreign subsidiaries all share in the profitability in what I believe we have,” Herzog stated in a recent radio interview.
For the period from January 1, 2012, through September 17, 2012, the company reported net income of $88,439,000, or $0.53 per share, on consolidated revenues of $283,952,000.
For more information visit www.bergamoenergy.com
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