OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Signs Letter of Intent for the Acquisition of a Profitable Florida-Based Fire Suppression System Company
NEW YORK, NY, April 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. Having completed the acquisition of seven companies since January 2021, the company has now agreed in principle to move forward with the acquisition of an impressive fire suppression system company in the US state of Florida. The company currently generates revenue in the region of $3 million per year, services several well-known customers in its area and has recently been awarded significant new contracts. It also holds enormous growth potential and is extremely well aligned for the launch of ILUS’ own fire suppression technology in the US.
“While we have been making huge progress on the acquisition front in general, we felt it important to announce this intended acquisition primarily because it marks our significant move into the US fire suppression systems market. Our ERT subsidiary is surging forward strongly so we believe it’s the optimal time for us to make the move into the US market for our fixed system technology which sits within our Integrated Systems subsidiary. The development of our own water mist fire suppression systems for kitchen fires, EV battery fires, and much more is going well, so it’s important that we have the right channel, local technical expertise, and existing customer base in the US when we kick things off there. For us, there is no better way to do this than with a profitable acquisition that has big name customers on its books, is already rapidly growing, and is primed for serious expansion,” said ILUS CEO, Nick Link.
Having completed its first round of due diligence, followed by negotiations, ILUS has signed a Letter of Intent with the Florida based company and is now moving into the final phase of due diligence for the completion of the acquisition. Following strong growth in 2021, the intended acquisition started 2022 very strongly as it signed significant new contracts with major brands in Florida and with the involvement of ILUS, the company is now very well positioned for further expansion. The company currently services well known customers such as Universal Studios and many international hotel and restaurant chains. The intended acquisition currently assembles, installs, and maintains fixed fire suppression systems from major global brands, with ILUS planning to roll out its own water mist fire suppression technology in the US through the company. The intended acquisition operates from suitable offices and warehouse facilities and owns several vehicles for installation and maintenance, however, as with recent US acquisitions completed by ILUS, the company will move to larger premises in its current area to fulfil new contracts and sustain further growth.
“This intended acquisition should be well timed to go hand in hand with our own fire suppression system development and certification. It will also serve as our initial Integrated Systems base in the US, which is also important given the very large potential projects we are discussing there for innovative fire suppression systems. The company has existing experienced management and staff and on its own, I believe it is already poised to double its revenue year on year. However, with our expansion plans and the addition of our own disruptive technology, I believe the company can grow exponentially more,” said John-Paul Backwell, ILUS Managing Director.
When completed, the intended acquisition will play a key role in speeding up further fire suppression product development at ILUS owned FireBug Technologies. It is also expected to complement ILUS’ Middle Eastern fire protection systems acquisition, BCD Fire, which currently has a sales pipeline of over $10 million in Dubai and Saudi Arabia and is expecting notable new orders in the second quarter. In addition to several acquisitions already in progress, some of which have letters of intent signed but have not been announced despite completion expected in the second quarter, ILUS plans to acquire further fire suppression businesses in the US, UK, and Europe.
For further information on the companies, please see their communication channels:
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (I) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcastsalso may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social &media channels:
website:https://ilus-group.com Twitter: OTC_ILUS
Note: ILUS Coin does not sit within ILUS International Inc (Ilustrato Pictures International Inc), so the public are recommended to follow the correct Media Channels relating to the public company OTC: ILUS.