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Greengro Technologies Signs Multi-Phased Acquisition Agreement With Major HVAC/Construction Company Tricor Mechanical
Greengro Technologies Signs Multi-Phased Acquisition Agreement With Major HVAC/Construction Company Tricor Mechanical.
About this update from Greengro Technologies, Inc.
[{"type":"text","content":"\n \n \n Greengro Technologies Signs Multi-Phased Acquisition Agreement With Major HVAC/Construction Company Tricor Mechanical\n \n \nGreengro Technologies Signs Multi-Phased Acquisition Agreement With Major HVAC/Construction Company Tricor Mechanical\n \n ANAHEIM, CA--(Marketwired - Aug 12, 2014) - Greengro Technologies (PINKSHEETS: GRNH) announced today that it has entered an multi-phased partnership and acquisition agreement with Tricor Mechanical Inc., a Southern California based construction company and provider of HVAC systems to commercial, industrial, municipal, and emerging market customers. The agreement provides for Greengro to own 51% of Tricor by the end of 2014, and the remaining 49% within 2 years.\n According to James Haas, \"This is a great opportunity for both our companies. Tricor has years of experience in the construction industry and was looking for a company like Greengro to expand into new emerging markets. As Greengro's turnkey systems business for green agriculture and legal cannabis expands, especially at the state and federal level, having the reputation, and construction capabilities that Tricor offers will make us the obvious vendor choice, resulting in continued revenue growth in this explosive market.\"\n Arnie Robles, CEO of Tricor stated, \"Tricor's project load from federal and state government funded opportunities are beginning to make up a large proportion of our backlog. To address these opportunities, both large and small, Tricor has begun to aggressively pursue alignment/JV partners to accentuate current capabilities and to copiously learn new fundamentals to increase the likelihood of successful projects while maintaining and forging new alliances. A great example would include the new $29,559,000.00 project at the Los Angeles Federal Courthouse where Tricor teamed up with one of California's largest mechanical contractors to satisfy the complex requirements. The often challenging nature and specific requirements of such projects has enabled Tricor Mechanical to build a strong reputation for managing complex works while being very flexible to align with. We believe Greengro Technologies is at the forefront of the emerging green agriculture and legal cannabis business which represents a huge demand for complex construction and HVAC systems. We believe aligning our resources with Greengro w...