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ParagonX Holdings Reaches Agreement on Major Acquisition Adding up to $60 Million in New Annual Revenue
ParagonX Holdings Reaches Agreement on Major Acquisition Adding up to $60 Million in New Annual Revenue.
About this update from Cavu Resources Inc.
[{"type":"text","content":"\n\n\n\nParagonX Holdings Reaches Agreement on Major Acquisition Adding up to $60 Million in New Annual Revenue\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nParagonX Holdings Reaches Agreement on Major Acquisition Adding up to $60 Million in New Annual Revenue\nPR Newswire\nCHARLOTTE, N.C., June 9, 2023\n\n\n\nCHARLOTTE, N.C., June 9, 2023 /PRNewswire/ -- The company announced it had finally reached a definitive agreement with a significant infrastructure company to add up to $60 million in annual revenue, the first phase of a multi-phase series of transactions. \"We started this process when Russ and Bob brought me in as Chief Executive over two years ago. I made announcements of our intention to become a significant infrastructure company through major acquisitions, fought through delays and difficult capital and interest rate environments, but never gave up on the long-term strategy to deliver as promised to our shareholders and investors,\" Kevin V. Cox, Chief Executive Officer stated.\n\"This was an extraordinary effort by the entire management team and an incredible win for our shareholders. This was my vision for some time – I brought in the talent to make it happen, funded the strategy personally, took enormous risks, and fought through the ups and downs. Seeing this to fruition in a way that benefits all the shareholders is incredibly satisfying. There is much more information I'll be sharing over the next few weeks,\" explained Russell Sinacori, Executive Chairman.\n\"I came in to support Kevin's transformative efforts with my experience negotiating mergers and acquisitions over the years. I've enjoyed working with Kevin and the entire team to see this through and look forward to working with Grant in the transition,\" said Joe Caprino, President and COO. \nWith revenue of over $60 million a year and a laser focus on further growth in the infrastructure space, the company will divest non-infrastructure-related assets and re-organize the leadership team. Kevin V. Cox will remain a Board Member but will be stepping down as Chief Executive. Kevin acc...