Wired News – DPW Holdings Ropes in Hospitality Experts Deborah and David Krause to Acquire and Operate IAM, Inc.
Stock Monitor: Espey Mfg. & Electronics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 29, 2018 / If you want access to our free research report on DPW Holdings, Inc. (NYSE: DPW), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DPW as the Company's latest news hit the wire. On May 24, 2018, the Company disclosed that it is expanding its investments by acquiring IAM, Inc. IAM is the owner of the Prep Kitchen brand restaurants located in the greater San Diego area. The Company plans to act like a private equity firm and has roped in perennial restauranteurs - Deborah and David as partners for this project. The financial details and other terms of the partnership were not disclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Prep Kitchen is a restaurant designed for cooks by cooks, Prep Kitchen focuses on delivering the same farm-fresh and seasonal cuisine at an everyday-eats price. Since opening the first Prep Kitchen in La Jolla, the concept has exploded.
Management Quotes
Commenting on the partnership with Deborah and David, Milton "Todd" Ault, III, the CEO and Chairman of DPW Holdings, Inc. said:
"We are very excited about partnering with Deborah and David Krause who have many years of experience successfully managing and growing hospitality businesses. Deborah and David are amazing, and we look forward to providing additional support as their Company grows. We are confident they will expand their presence in the hospitality sector and bring value to DPW's shareholders."
Deborah Krause, operating partner of IAM, added
"With Mr. Ault's years of experience in the hospitality sector, DPW Holdings was a natural fit to partner with. We look forward to working with Mr. Ault and his team to build IAM, Inc., expand the Prep Kitchen brand and create and develop other brands over the next decade."
Partnership Arrangement
As per the arrangement, the husband and wife team of Deborah and David Krause will operate IAM through the Las Vegas-based hospitality management firm - IAM Hospitality - owned by them. They will oversee the complete management of the Prep Kitchen brand of restaurants. Deborah and David are experienced professionals and have a combined experience of over 50 years in managing both niche and named brand locations. They have been tasked with expanding the Prep Kitchen brand throughout California and also expand the portfolio of restaurant brands owned by IAM, Inc. Deborah and David plan to start expanding the Prep Kitchen brand in California in 2018.
DPW's subsidiary Digital Power Lending, LLC is providing finance for this deal.
About DPW Holdings, Inc.
Newport Beach, California-based DPW is a diversified holding Company. The Company was formerly known as Digital Power Corporation. The Company has grown by following a growth strategy of acquiring undervalued assets, disruptive technologies, sustainable solutions, and exciting ventures for incubation and development to their full potential for long-term growth and investor returns. Some of the leading sectors where the Company invests includes commercial, defense/aerospace, industrial, telecom, medical, crypto-mining, hospitality, textile, and investment/corporate lending.
Fremont, California-based Digital Power Lending, LLC is a wholly owned subsidiary of DPW and a private lending Company in California. It provides capital to small- and mid-size businesses for an equity interest in addition to loan fees and interest.
Stock Performance Snapshot
May 25, 2018 - At Friday's closing bell, DPW's stock advanced 1.98%, ending the trading session at $0.71.
Volume traded for the day: 631.62 thousand shares.
Stock performance in the previous six-month period – up 13.26%; and past twelve-month period – up 32.24%
After last Friday's close, DPW's market cap was at $41.30 million.
The stock is part of the Technology sector, categorized under the Diversified Electronics industry. This sector was flat at the end of the session.
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