AVEW Holdings Inc. Acquires Tarragon Homes LLC, A Custom Home Builder and Remodeling Service in the Austin Area
October 21 2014 - 9:00AM
eTeligis
AUSTIN, TX(Eteligis Inc.)
AUSTIN, TX, United States, via ETELIGIS INC., 10/21/2014 - -
AVEW Holdings Inc. (OTC Pink: AVEW) (PINKSHEETS: AVEW) today
announced that the company has acquired Tarragon Homes LLC,
www.tarragon-homes.com (LIC#: TE33200) a custom home builder and
remodeler serving the Austin Texas area. Tarragon Homes builds
custom homes from contemporary, ranch and luxury homes from 900
square feet to 9000 square feet. Chris D. Wood, founder and
President of Tarragon Homes LLC has over a decade of experience
building high-end custom homes and high-end renovations in central
Texas and the lake areas. Prior to his work in custom building Mr.
Wood spent seven years in the mortgage and consumer lending in both
the Texas and national markets.
Tarragon's 2013 revenues were at $1.6 million in remodeling work
and revenue for 2014 is tracking at $2.5 million range with 2015
revenues projected to reach over $5 million dollars.
Mr. Wood will run Tarragon Homes as a division of AVEW Custom
Builders, a new division created to handle custom building,
commercial building and real estate acquisitions. Mr. Wood will
also act as the Director of AVEW Custom Builders. AVEW has secured
construction financing for new custom construction projects in the
Central Texas Region. Mr. Chris Wood stated, "Tarragon Homes is
very excited to join the AVEW family of construction oriented
enterprises, rounding out a full service provider of quality,
custom built home remodeling, renovation and new build services. In
joining the AVEW family, Tarragon Homes has access to an in-place
management and financial structure that will allow substantial
growth in a rapidly expanding residential market in central Texas
as well as the launching pad to expand our proven ability to
deliver quality custom home improvements and construction services
to a broader market."
Tarragon Homes LLC, was recently rated by BuildZoom in the top
10% of over 222,249 contractors in
Texas. BuildZoom is the world's largest repository of
information on contractors.
Mr. Chavez, CEO of AVEW Holdings stated, "The acquisition of
Tarragon Homes complement's AVEW'S business model of specialty
construction and adds to its current Austin Patio & Outdoor
Living Company. He continued, "the projected revenues and targeted
construction projects will accelerate AVEW Holding's to surpass the
anticipated 2015 revenues of $12 million. The marketplace will have
a better understanding why the new management increased the
authorized share structure to allow this and other acquisitions
with restricted stock and expects the release of the company's
financials to better reflect the growth and its structure over the
coming quarters."
About AVEW Holdings Inc. :
AVEW HOLDINGS is a full service pool, spa and landscape design
and construction company. Austin Premier Pools & Spas is a
custom pool design and construction company that has won national
and regional pool construction and design awards. Fantastic Pool
Services is a maintenance and pool repair company doing business in
central Texas. Austin Patio & Outdoor Living is a new and
residential remodel Construction Company servicing central Texas.
Austin Patio also designs and installs landscaping and outdoor
living kitchens, fireplaces, cabanas, and decks. Kustom Fence and
Construction Company is a custom fence designer and builder serving
the Texas Hill Country.
Safe Harbor Statement:
AVEW cautions that statements made in press releases constitute
forward-looking statements, and make no guarantees of future
performances and actual results/developments may differ materially
from projections in forward-looking statements. Forward-looking
statements are based on estimates and opinions of management at the
time statements are made.
CONTACT:
AVEW HOLDINGS INC.
Shareholder Relations
S.T.A.T Group
Craig Fischer
Communications Manager
786-375-0556
investors@avewholdings.com
512-436-9496
SOURCE: AVEW Holdings, Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=28205
- Link to submission on http://www.eteligis.com
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