RenuEn Corp Announces Acquisition of Total Exteriors Corporation
April 30 2013 - 8:30AM
Marketwired
RenuEn Corporation (OTC Pink: RENU), a Renewable Energy Development
Company, announced the acquisition of Total Exteriors Corporation.
Total Exteriors Corporation is a Union, New Jersey based solar and
renewable energy construction company.
Don Wood, CEO of RenuEn, stated: "I am extremely excited to
announce the acquisition of Total Exteriors and its successful
division, Energy Solutions by Total." Wood further stated, "As
previously announced, I have spent a significant amount of time
re-establishing RenuEn's relationship with the team at Total." Wood
added, "Total, under the leadership of founder Chris Edwards and
his team, has twenty plus years and a proven track record of
providing quality home improvements to consumers in the New York
metropolitan market."
Chris Edwards, President of Total, stated: "After adding our
successful residential solar program to the menu of products at the
Total companies, our merging into RenuEn is a very logical decision
for me." Edwards added, "The Total companies have successfully
provided and installed over $250,000,000 in products and services
over the last 20 years. With our recent refocus on renewable energy
and green building products we are expecting annualized sales
revenue of $6,000,000 in 2013 before we even expand into new
markets." J. Charles Nemes, Vice President of Energy Solutions,
stated, "I have been tasked by Chris and Don to grow our company
into additional markets in the coming year and I look forward to
expanding our products and services into additional states before
year's end." Edwards explained, "Having RenuEn as the parent
company of both Energy Solutions and Team Energy, we believe that
we have put together a successful business plan to develop
residential, commercial, industrial and municipal markets that
create revenue generating projects to coincide with Team Energy's
development of landfill projects. We hope to be able to also
provide the construction and management on a majority of RenuEn's
future projects."
Don Wood added, "Total also brings with it a successful team
with extensive experience in managing and building multi-state
businesses." Wood continued, "Mr. Edwards has strategic alliances
with the biggest suppliers and manufacturers in the nation and he
currently serves on the Home Improvement Advisory Board of GE
Capital. The advisory board is comprised of ten of the nation's
best and brightest business owners along with senior executives of
GE Capital. GE Capital is the one of the largest providers of
consumer financing in the world." Wood added, "With the team at
Total taking on our aggressive mergers and acquisition growth
strategy, we can now accelerate our national expansion into the
residential, commercial, industrial and municipal markets with very
specific and strategic areas in mind." Wood continued, "Our
immediate goal is to begin to generate revenue and bring value to
our very loyal and patient shareholders."
"The financial terms of the acquisition of Total are 50 million
in restricted stock and $400,000 in a promissory note. The note
pays interest at 3% per annum and is for 5 years," stated Wood. "As
part of the acquisition, Chris Edwards has been named President of
RenuEn in addition to his role as President of Total. Additionally,
J. Charles Nemes has been promoted to Executive Vice President of
Total and RenuEn and will report directly to Wood and Edwards. They
will both serve on the Board of Directors at RenuEn." Wood
continued, "The day to day legal, marketing and accounting
operations of Total and RenuEn will be combined and managed from
our Union, NJ office and our St. Cloud office will remain as
Corporate Headquarters." Wood added, "I look forward to introducing
our executive team on Thursday's conference call and discussing
other exciting news about RenuEn."
About Total Total Exteriors Corp
(www.TotalRemodeling.com) and (www.EnergySolutionsByTotal.com) is a
proven home improvement contractor that has installed over
$250,000,000 in products for their 30,000+ customers. The company
continues to focus on expanding their menu of products and services
into multiple states and regions and expects significant growth
into 2014.
About RenuEn Corporation RenuEn
Corporation is a Renewable Energy Development company. The company
focuses on Landfill Compressed Natural Gas capture, International
Renewable Power projects and the development of solar, geothermal
and other renewable energy strategies.
Safe Harbor Statement This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements are based on
the current plans and expectations of management and are subject to
a number of uncertainties and risks that could significantly affect
the company's current plans and expectations, as well as future
results of operations and financial condition. A more extensive
listing of risks and factors that may affect the company's business
prospects and cause actual results to differ materially from those
described in the forward-looking statements can be found in the
reports and other documents filed by the company with the
Securities and Exchange Commission. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact: Contact and Inquiries for Investor Relations: Michael
Irving Paramount Advisors, LLC 407-878-5462 mike@parvise.com
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