OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Agrees Terms With an Acquisition Delivering Upwards of $100 Million in Annual Revenue
May 25 2022 - 11:52AM
InvestorsHub NewsWire
NEW YORK, NY -- May 25, 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. The company confirmed that it has agreed the
principal terms to acquire its first $100 million revenue company.
The agreed acquisition delivered upwards of $100 million in 2021
revenue and is on track to achieve over $200 million in
2022.
ILUS is pleased to announce that following months of discussions
and due diligence, the terms have been agreed for the acquisition
of a large process equipment manufacturer which is focused
primarily on the Oil, Gas and Utility industries and which also
manufactures firefighting equipment for special projects. The
company is a leading provider of heavy engineering solutions and
turnkey projects with an extensive list of global multinationals as
customers. The agreed acquisition is headquartered in the Middle
East where its manufacturing and assembly facilities extend to over
10 million square feet.
“This agreed acquisition would allow us to scale up our
production of larger vehicles as well as our fixed and portable
firefighting systems, specifically for the Oil and Gas sector where
we will have an existing customer base. The addition of such
enormous manufacturing capability and revenue will be an incredible
development for ILUS, with more exciting developments nearing
completion in the pipeline,” said ILUS Managing Director, John-Paul
Backwell.
Following completion of the first round of due diligence, the
heads of terms for the acquisition and documentation have been
agreed. The attorneys are satisfied and have begun work on the
contracts whilst the second round of due diligence is already
underway. ILUS and the agreed acquisition hope to complete the
remaining due diligence and contractual process within
approximately thirty days.
ILUS will structure the agreed acquisition within its Emergency
Response Technologies subsidiary, alongside a group of several
strategically aligned manufacturing and technology companies.
Emergency Response Technologies has simultaneously agreed the
acquisition of a fully reporting Special Purpose Vehicle (SPV) and
it is intended that the agreed acquisition will be reversed into
this SPV. More detailed information on the structure of the deals
will be announced closer to or at their completion.
ILUS CEO, Nick Link, commented, “Following months of hard work
behind the scenes on this deal, we are pleased to have agreed terms
on it. We have not spoken about this deal previously and we believe
the agreement represents a significant leap forward for ILUS and
its Shareholders. The acquisition of our first $100 million revenue
business will further strengthen our foundations as we deliver on
our plans for Emergency Response Technologies and continue to build
the ILUS conglomerate.”
For further information on the companies, please see their
communication channels:
Website: https://ilus-group.com
Twitter: OTC_ILUS
Email: IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
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Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
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information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
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proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
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contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
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cautioned not to place undue reliance on forward-looking
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and others should note that we announce material financial
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OTC_ILUS
Note: ILUS Coin does not sit within ILUS International Inc
(Ilustrato Pictures International Inc), so the public are
recommended to follow the correct Media Channels relating to the
public company OTC: ILUS.
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