AVEW Holdings Inc. (AVEW)

[MLT70]

http://www.marketwired.com/press-release/avew-holdings-inc-completes-acquisition-metroplex-commercial-pools-35-year-old-custom-otc-pink-avew-1988295.htm

AVEW HOLDINGS Inc. Completes Acquisition of MetroPlex Commercial Pools, a 35-Year-Old Custom Pool Builder


AUSTIN, TX--(Marketwired - Feb 3, 2015) - AVEW HOLDINGS Inc. (OTC PINK: AVEW) today announced that the company completed the acquisition of MetroPlex Commercial Pools (MCP), a Dallas, Texas based company that designs and builds custom residential and commercial pools in the Dallas Metro area. MetroPlex Commercial Pools has been in business since 1980 and has designed and built custom award winning pools for the past 35 years. MCP has enjoyed steady average annual revenues of $2,800,000 over the last 5 years. MCP will operate as a division of AVEW Holdings Inc. with offices in North Dallas. MCP estimates a 25% increase in sales for 2015 with the addition of management and field support for current Dallas operations.

MCP year-end revenues for 2014 will be reflected in AVEW's year-end financials. AVEW HOLDINGS Inc. 2014 year-end financials are in progress and scheduled to be submitted on time to OTC markets. AVEW's year-end financials will also include revenues of custom home builder Tarragon Homes and Fantastic Pool Services (FPS). FPS is an Austin TX based pool service and pool remodel division. FPS has doubled in service contracts and more than tripled in revenues since joining AVEW in 2014.

Mr. Jay Ling, President, stated, "AVEW's year-end projected revenues are in line with 2014 projections and we are tracking to meet or exceed 2015 revenue projections of $15 million."

AVEW Holdings was established in 2010 to service the greater Austin area. Over the years, AVEW has expanded outside of the regional market while also pursuing a vertical integration strategy through the acquisition of service and construction companies that complement AVEW business. The recent addition of AVEW REAL ESTATE DEVELOPMENT division has successfully negotiated a 30 million dollar Letter of Intent for a residential new home development in Austin, Texas.

Commenting on the transaction, CEO Jose Chavez, stated, "The AVEW management team and the Board of Directors are excited about this transaction and continual success of AVEW's business model. AVEW will be taking advantage of a robust Dallas, Texas economic boom."