TAMPA, Fla., May 3, 2013 /PRNewswire/ -- Enviro-Serv Inc.
(ESI) (OTC Pink: EVSV) Enviro-Serv Inc. today announces that both
companies have agreed upon the valuation for acquisition of Air
Systems Group (ASG) opening the door to commence and finalize
Enviro-Serv's first acquisition.
Chris Trina, Chairman and CEO of
ESI stated this, "This is extremely exciting and encouraging for
both companies. After almost 3 weeks of performing due diligence
since the April 16th
announcement of our letter of intent to acquire ASG much has been
accomplished. Our team literally spent hours and hours sitting with
the owners in their office going over their current financials and
their expected future goals. Performing proper due diligence
requires more than receiving bank statements and pro-formas," Trina
stated. "To really understand and learn about a potential
subsidiary candidate our team must be face-to-face with them often,
having lunch and dinner, meeting wives or husbands and their family
members, speaking to vendors and employees alike and looking over
major contracts. We must become part of their family so to speak
over a very short period of time to obtain that "warm and fuzzy"
one must feel to partner up with a company" Trina explained.
Trina further stated, "I think the most difficult task after the
due diligence process is completed is agreeing on the valuation of
the target company. All three partners of ASG unanimously voted in
favor of our initial valuation which opened the door to completing
our first acquisition at ESI which super exciting for our
shareholder's." Trina ended by saying, "There is indeed more work
to be done and some very important items to be further discussed to
finalize this transaction; however the excitement level from both
sides and the progress already made makes me believe we can wrap
this up by late May."
Troy Tipton, Vice President of
Operations at Air Systems Group quoted, "we are very excited to
move forward with ESI in becoming a wholly owned subsidiary. The
benefits of being part of a publicly traded entity are exciting at
many levels."
About ESI
Enviro-Serv Inc. (OTCPK: EVSV) is a Tampa based corporation specializing in
providing property maintenance services in geographically
concentrated warm climate states. Through an aggressive
acquisition strategy, the Company is building a portfolio of highly
profitable enterprises that offer year round services such as pest
control management, lawn and landscaping care, pool maintenance,
air conditioning/refrigeration installation and repairs and a host
of additional onsite maintenance offerings. Please visit their
website at www.enviro-serv.com
About ASG
Air Systems Group (ASG) specializes in commercial refrigeration and
air conditioning, providing superior customer achievements for all
project sizes and needs. The company's installations, along with
the scores of services provided have positioned ASG as a leading
and inclusive contractor for today's construction projects. A
testimony to their quality services can be seen in their client
list which includes Circle K and Sunoco establishments. In addition
to commercial Stores, ASG services restaurants, car dealerships,
schools, strip centers, assisted living facilities, hotels, along
with an assortment of commercial and residential applications. In
addition to their service department, ASG directs a full commercial
division that is responsible for the installation of ductwork,
refrigeration coolers, kitchen hoods, ventilation and other related
aspects of commercial and residential construction. Please visit
their website at www.airsystemsservices.com
Forward-Looking Statements - This press release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such statements are subject to risks and uncertainties that could
cause future results to differ materially from the forward-looking
statements. You should consider these factors in evaluating the
statements herein, and not rely on such statements. The
forward-looking statements in this release are made as of the date
hereof and Enviro-Serv Inc. undertakes no obligation to update such
statements.
CONTACT:
Enviro-Serv Inc. – 813-975-7177
SOURCE Enviro-Serv Inc.
