Business
UPDATE - Sprout Announces Acquisition of EcoCabins Sales Pipeline for Thousands of Tiny House Builds Over Three Years
UPDATE - Sprout Announces Acquisition of EcoCabins Sales Pipeline for Thousands of Tiny House Builds Over Three Years.
About this update from Sprout Tiny Homes, Inc.
[{"type":"text","content":"\n\n PUEBLO, CO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Sprout Tiny Homes (OTC PINK: STHI) has purchased substantially all of the assets of a Colorado Springs based tiny house and modular home dealer and designer, EcoCabins, LLC, a subsidiary of EcoVentures, LLC. This asset purchase includes a mix of stock plus stock incentives for continued business development over the next 5 years in the emerging small-living housing marketplace.\n\n \n \n \n \n \n \n \n \n \n \n \n Sprout Tiny Homes, Inc.\n \n \n \n \n \n \n \n \n\n Inherent in the asset purchase is the acquisition of all of the intellectual property of EcoCabins including designs, copyrights, and marketing as well as a substantial pipeline of commercial business generated in Texas and Colorado. This sales pipeline represents close to 3,000 units in various stages of intent or contract worth an estimated $150 Million of Gross Revenue over a three to five year period. This includes the recently announced $26M contract with Texas Site Development, LLC and Tiny Dwelling Co. for up to 275 tiny homes to be purchased and installed at two tiny home communities in the Austin, Texas area. EcoCabins and team was responsible for the inaugural 2015 National Tiny House Jamboree, which has become the annual industry-standard tradeshow and festival now known as the National Tiny House & Simple Living Jamboree (www.tinyhousejamboree.com).  With this asset purchase, Sprout will increase its visibility in the Jamboree this August, showcasing several new models, and involvement in multiple major community developments centered around tiny-house designs nationwide. The Jamboree is currently slated to be held in Austin, Texas August 23rd – 27th, 2018. Also inherent in the asset purchase, two of EcoCabins’ principals, namely Mr. Darin Zaruba and Mr. Andrew Stewart, will assist Sprout in an advisory capacity for the foreseeable future, and two will move to Sprout’s full-time executive team; namely Mr. Alan Kirchhoff as VP of Business Development, and Mr. Jefre Outlaw as VP of Sales. These team members represent close to 100 years of combined experience in sales, manufacturing, financing, and development experience, including specific expertise and leadership in the Tiny House Movement and Industry. “We are so excited to have consummated this relationship, and to ha...