OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Signs Letter of Intent for the Acquisition of a Profitable Florida-Based Fire Suppression System Company
April 06 2022 - 1:12PM
InvestorsHub NewsWire
NEW YORK, NY -- April 6, 2022 -- InvestorsHub NewsWire -- 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:
Website:https://ilus-group.com
Twitter: OTC_ILUS
Contact:
Email:IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
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OTC_ILUS
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