Business
Halitron, Inc. Signs Letter of Intent to Acquire $4.5 Million Supply Company
Halitron, Inc. Signs Letter of Intent to Acquire $4.5 Million Supply Company.
About this update from Halitron Inc
[{"type":"text","content":"\n \n \n Halitron, Inc. Signs Letter of Intent to Acquire $4.5 Million Supply Company\n \n \nHalitron, Inc. Signs Letter of Intent to Acquire $4.5 Million Supply Company\n\nTarget Acquisition Generated $1.5M in Sales and $100K of Adjusted EBITDA for 2016\n\n \n NEWTOWN, CT--(Marketwired - Mar 20, 2017) - Halitron, Inc. (the \"Company,\" \"Halitron\") (OTC PINK: HAON), a holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today announced that it has signed its first letter of intent since its $300,000 non-toxic equity raise which was required to boost Halitron's revenue to between $3 and $5 million annually. \n Halitron announced on March 6, 2017 that it has closed and drew down on its first tranche of capital that is non-toxic funding.\n The letter of intent is to acquire another company in the sales and manufacturing of retail supply products industry, which targets small to mid-size retailers throughout the Unites States. \n The target acquisition generated $4.5 million sales and $300,000 in adjusted EBITDA over the trailing thirty-six months. \n Bernard Findley, Halitron's President and CEO stated, \"This targeted acquisition fits perfectly into the two-existing point of purchase supply brands while having incredible synergies to increase sales through cross-marketing opportunities and to significantly decrease costs through merging operations.\" The target acquisition will be folded into the operations of its two legacy brands CinchSigns and PiecesInPlaces.\n Management is going through due diligence on the target acquisition and anticipates closing the transaction over the next 90 days.\n Throughout 2016, Halitron acquired four legacy brands:\n Two Printed Point of Purchase Supply Brands:\n www.CinchSigns.com\n www.PiecesInPlaces.com\n Two Archival Grade Scrapbooking Supply Brands:\n www.ArchivalPhotoPages.com\n www.ArchivalMuseumSupplies.com.\n About Halitron, Inc.\n Halitron, Inc., a holding company, is focused on acquiring sales, marketing, and manufacturing businesses, and then rolling them into an efficient, low-cost operating infrastructure. The Company is structured with two Strategic Business Units; Sales & Marketing Division and a Manufacturing Division. Management targets operating entities that can either benefit from current operating infrastructure or operate auton...