Business
Conair Franchise Development Corporation has entered into an agreement to aquire Cool Pro Mechanical of Huntington , Long Island.
Conair Franchise Development Corporation has entered into an agreement to aquire Cool Pro Mechanical of Huntington , Long Island..
About this update from Conair Corp.
[{"type":"text","content":"Conair Corporation (OTC:CNGA) has agreed in principal, through it's newly created wholly owned subsidiary, Conair Franchaise Development Corporation, to aquire all assets and customers lists from Cool Pro Mechanical and Northstar Refrigeration of, New York.Cool Pro Mechanical and Northstar Refrigeration, formally C J Martin Enterprises is an established residential air conditioning and refrigeration contractor since 1977. Cool Pro specializes in air quality control systems, central air conditioning and heating, ductless mini splits, forced air gas furnaces and light commercial commercial installations and service. Cool Pro has a large customer base of over 1700 and often receives substantial repeat business. Northstar specializes in servicing and maintaning all makes and models of refrigeration equipment. Cool Pro and Northstar have been growing for the last three years and is on track for a 50% plus gain in 2018 revenues to $ 1,500,000.00 . In addition, Cool Pro and Northstar should be immediately acretive to the net profit of Conair Corporation in fiscal 2019.\"We are very happy and excited to have been able to start building CFDC (Conair Franchise Development Corporation) with our first possible aquisition in New York. Although Cool Pro and Northstar will not be a franchise yet, we find that being able to build a solid framwork for the company's future is most imperative now , and, the total HVAC business is still growing at an very strong rate,\" as stated by Mr. Barry Stransky, President Conair Corporation.The compensation to Cool Pro and Northstar is as follows;$ 150,000.00 cash25,000 CNGA common stockThe seller has agreed to stay active for a minimum of 7 month","length":1779,"tagName":"div"}]