BOCA RATON, Fla., Oct. 2, 2012 /PRNewswire/ -- Energy 1 Corporation
("E1") (OTC: EGOC) announces it has acquired Master Lease of
Delaware ("Master Lease" or
"M/L"), a truck & trailer leasing business based in
Henderson, Colorado.
Master Lease's customer base consists primarily of
owner-operators and small trucking companies who haul for regional
distributors. Master Lease's present portfolio is comprised
of more than 150 active leasing customers with approximately 250
over-the-road trucks & trailers.
According to the terms of the acquisition, E1 utilized its
credit facility with TCA Global Credit Master Fund in an all-cash
transaction.
"This was an all-cash purchase of 100% of the equity interest in
Master Lease. No shares were issued, nor will be issued in
association with this deal," said Raymond
T. Brown, Chairman of E1. "Just so there is no
confusion by the market or our shareholders, there are no stock or
option conversion features as part of the deal, nor any associated
with our credit facility. It was a pure cash deal for a great
addition to the E1 business model."
"Master Lease is now our licensed leasing agent for E1 trucks
going forward," said Dean Steiger,
President of Energy 1 Corporation.
The company believes that Master Lease has the current capacity
to sell or lease up to 40-60 trucks a month without the need to
expand facilities or personnel and presently has customers in need
of several hundred vehicles, but presently lacks current inventory
for sale or lease.
E1 plans, going forward, to provide the funds – through its
credit facilities – for new inventory purchases to be retrofit with
E1's technology solutions for fuel efficiency and emission
reduction while growing Master Lease's portfolio management
income.
About Master Lease
Master Lease is a 40yr+ truck & trailer leasing business
based in Henderson,
Colorado. Their customer base consists primarily of
owner-operators and small trucking companies who haul for regional
distributors such as First Choice Transport, Greatwide Logistics,
HVH, Landstar, Monfort, National Carriers and Power Source.
Master Lease's present portfolio is comprised of more than 150
active leasing customers with approximately 250 over-the-road
trucks & trailers, as well as some specialty equipment.
For information about Master Lease, please visit:
http://www.MasterLease.com
About Energy 1 Corporation
Headquartered in Boca Raton,
Florida, E1 develops, manufactures and distributes fuel
efficiency and emission reduction solutions for retrofit on diesel
and gasoline powered equipment. E1's technologies are
available for variable as well as constant speed motors and can be
configured to meet most desires or need.
For more information about E1 Trucks, the TekFuel System, the
ExhausTek or IonTek solutions available for your truck or fleet,
please feel free to contact E1.
For more information, please visit:
www.Energy1Corp.com
Forward-Looking Statement: Please be advised that
statements made herein, other than historical data, constitute
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
stated or implied by such forward-looking statements.
Contact:
Energy 1 Corporation
561-347-6462
Info@Energy1Corp.com
SOURCE Energy 1 Corporation