Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8),
a leader in the energy efficiency sector, this morning announced its entry into
a letter of intent to acquire an established and leading provider of electrical
retrofit services (the “Target”). Per the update, the Target has been providing
the Canadian market with high quality, value-added electrical efficiency
services and retrofit applications for more than 15 years. It has reported
averaged unaudited revenues of over $6.5 million and normalized EBITDA of
approximately $700,000 over the past three years. The proposed purchase price
is C$3 million, subject to working capital adjustments with a holdback of
$300,000 for 12 months. “There are many strategic synergies between Kontrol and
the Target including a complimentary customer base, product offering and
distribution network for our existing smart building technologies,” Paul
Ghezzi, CEO of Kontrol Energy, stated in the news release. “The Target
currently provides services and solutions to many of Kontrol’s existing
customers and we see an immediate expansion potential across a growing combined
customer base as we vertically integrate across our broader operating
platform.”
To view the full press release, visit http://ibn.fm/a8zEu
About Kontrol Energy
Kontrol Energy Corp. is a leader in the energy efficiency
sector through IoT, Cloud and SaaS technology. With a disciplined mergers and
acquisition strategy, combined with organic growth, Kontrol Energy Corp.
provides market-based energy solutions to our customers designed to reduce
their overall cost of energy while providing a corresponding reduction in
greenhouse gas emissions. For more information, visit the company’s website
at www.KontrolEnergy.com
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment