Business
Sustainable Water Solutions, Inc., Seeking To Raise $3 Million To Support The Company's Strategic Objectives
Sustainable Water Solutions, Inc., Seeking To Raise $3 Million To Support The Company's Strategic Objectives.
About this update from Utopya Worldwide Holdings Inc
[{"type":"text","content":"CHALFONT, PA / ACCESSWIRE / March 15, 2019 / Sustainable Water Solutions, Inc. ("SWS"), a subsidiary of Andiamo Corporation (OTC PINK: ANDI) has entered into a stock purchase agreement with the first of its two acquisitions with a scheduled closing date of March 29, 2019. SWS is seeking to raise $3 million dollars in initial financing to complete this closing and place an escrow for acquisition of their second company which will be completed upon the registration of SWS on a major exchange. Due to contract restrictions, the identities of the investment banker and the acquisition targets will not be revealed until after financing and closing is complete.SWS is acquiring two target companies as part of a roll-up strategy in the water treatment industry. The two targets possess proprietary designs and equipment for the purification of water, waste water recovery and recycling. The two companies have an installed base of commercially proven equipment designs, systems, technologies and programs which secure their position in the multi-billion-dollar, global market. The core design technologies have a 25-year plus track record in the industry with 50% of the revenues reoccurring on a monthly basis.Target 1 owns patented proprietary "plug & play" designs for production of ultrapure water used in biotechnology, pharmaceutical and research industries. Their systems include validated installations which meet the United States Pharmacopeia requirements for USP Water. Revenues for 2018 were $1,340,000 with an EBITDA of $588,000.Target 2 has a national presence in the water and waste water treatment industry with a strong focus on the East Coast of the United States. While the company's primary focus is the power generation industry, they also work with the US military and local municipalities. One of their leading technologies is the removal of PFC contamination to below detectable levels. This is a growing issue around US Military airbases and certain industrial manufacturing plants where groundwater is contaminated. Target 2's client base includes a number of Fortune 100 companies. Fifty percent of Target 2's revenues result from monthly, reoccurring service and rental business, with revenues for 2018 exceeding $5,300,000 and an EBITDA of almost $600,000.These two acquisitions provide synergies in operations, sales...