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AVEW Signs Definitive Agreement With 33 Year Old Specialty Kustom Fence Construction Company
By eTeligis
Sep 9, 2014 5:30:25 AM PDT | 3 View(s) Rating
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AUSTIN, TX, United States, via ETELIGIS INC., 09/09/2014 - - AVEW Holdings Inc (OTC PINK: AVEW) (PINKSHEETS: AVEW) today announced that the company has signed a Definitive Agreement for the acquisition of Kustom Fence Construction Company (KFCC). AVEW Holdings had signed a Letter Of Intent on September 13, 2014 for the acquisition of KFCC. KFCC is a 33 year old fence and construction company based in New Braunfels, Texas. KFCC has been averaging over a million dollars per year in revenues serving the Hill Country. AVEW will be expanding KFCC business into Austin, San Antonio, and Waco, Texas.
Final closing is set on or before December 31, 2014. During this period, AVEW and KFCC will initiate a transition period where AVEWs newly hired project manager, Mr. Marcelino Martinez, and Mr. Jay Ling, AVEWs President, will run and co-manage Kustom Fence alongside Mr. Chip Harding, President of Kustom Fence and Construction Company.
Mr. Martinez is a 22-year veteran in construction management and supervision. Mr. Martinez holds an AAS Construction Management Degree. AVEW selected and hired Mr. Martinez after review of his extensive certifications and experience in construction and remodeling, construction permitting, building codes, construction materials, and personal interaction with a large Central Texas subcontractor base. Mr. Martinez will be responsible for construction and new sales for KFCC. Mr. Ling will handle operations, and KFCC accounting will be transferred to AVEW headquarters in Austin, TX.
Commenting on the transaction, Mr. Ling stated, We are very excited to move forward with KFCC. Our analysis and pre-marketing efforts indicate that KFCC has the potential to double in sales in the next twelve months and grow steadily as expansion of KFCC business to other cities is executed. KFCC designs and builds custom wrought iron fencing, ranch fencing, wood privacy fencing, chain link fencing, white vinyl fencing, driveway entrances, entry gates, and gate openers.
Mr. Jose Chavez, CEO of AVEW stated, We have been working our business model and have on several occasions indicated to our customers, vendors, and investors that we continue to be on target for AVEW Holdings becoming a successful public company focusing on specialty construction- KFCC is proof of our commitment and hard work.
AVEW Holdings is a 28 year old Nevada company now based in Austin, TX and was restructured in 2010 to service the Central Texas region. AVEW is expanding outside of the regional market while pursuing a vertical integration strategy through the acquisition of service and construction companies that compliment AVEW business.
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 Hill Country.
Media services by: Strategic Tactical Asset Trading LLC &18kt.TV LLC
Safe Harbor Statement:
AVEW cautions that statements made in press releases constitute forward-looking statements, and makes 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.
AVEW HOLDINGS INC.
CONTACT
Shareholder Relations
S.T.A.T Group
Craig Fischer
Communications Manager
786-375-0556
investors@avewholdings.com
512-436-9496
SOURCE: AVEW Holdings
