Target Company is a USA based Manufacturer for Aerospace and Defense Industries
FOR IMMEDIATE RELEASE
LADY LAKE, Florida, June 16, 2021 - (OTCMarkets) - Small Business Development Group, Inc. (OTC:SBDG) has executed a Memorandum of Understanding (MOU) for the acquisition of a precision industrial manufacturing company. The closing of the acquisition is subject to satisfactory completion of due diligence. As a publicly traded holding company on OTC Markets, SBDG’s plan is to build its portfolio with industry centric verticals. This is the first step in the development of a vertical of manufacturing and service-based holdings for SBDG.
This acquisition target is an American company with over 50 years of experience and relationships with aerospace, defense, and industrial customers. The target company’s 2020 revenue was in excess of $1.8 million, down as a result of the pandemic causing production slowdowns. Based in California, the company has an existing management team in place that has spent the last two years streamlining and modernizing the company to attract new clients in the industries of high technology, electric vehicle (EV) infrastructure, renewable energy, and automotive.
“This business has a long history, impressive client base, and we feel it has significant potential. The current CEO purchased the company from its longtime owners several years ago, with the intent to use technology to bring efficiencies that would increase production and grow the company. The CEO did a phenomenal job weathering the pandemic, while still positioning for the future,” said SBDG Chief Operating Officer Brian Jue. “We see new opportunities, clients, and potential products from this acquisition, with our involvement. The fact that we can say ‘Made in America’ and to help expand this company to create more jobs here in the United States makes it that much better.”
Small Business Development Group, Inc. (OTC: SBDG) is a holding company publicly traded on OTC Markets. SBDG has an active mandate to identify and acquire operating companies with a preference for those in the small to medium sized enterprise arena (SMBs and SMEs) based in North America, specifically those demonstrating modest but predictable growth and profitability over time. Ideal candidates for acquisition have an enterprise value between $2 million and $50 million with positive cash flows between $500 thousand and $5 million. SBDG's intent for all acquisitions is to affirm or establish sound business fundamentals and to drive revenue and profitability growth. The goal of SBDG is to develop and align portfolio companies into high performance industry verticals and deliver additional value for its stakeholders.
For more information, go to www.SBDGHoldings.com
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business.
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