Monday, March 08, 2021 8:38:34 AM
8:31 am ET March 8, 2021 (Accesswire) Print
PHOENIX, AZ / ACCESSWIRE / March 8, 2021 / Alpine 4 Holdings, Inc., (OTCQB:ALPP), a leading operator and owner of small market businesses, announces the combination of subsidiaries Deluxe Sheet Metal, Inc. (Deluxe) and Morris Sheet Metal Corporation (Morris) to become one of the largest sheet metal contractors in the Midwest region of the United States. Both companies will be under the Morris Sheet Metal brand. Deluxe and Morris are expected to be fully integrated by May 2021.
This merger creates a more harmonious relationship between the two companies. The combining of resources empowers Morris to strengthen its brand through its strategic banking relationship, eliminate duplicative and competitive interests, and expand its footprint beyond the Indiana home base.
Morris will now have over 100,000 square feet of production and office space and over 90 Union Sheet Metal Workers in South Bend, IN and Fort Wayne IN. Both locations put the company within 2-3 hours of Chicago, IL, Indianapolis, IN, Detroit and Grand Rapids, MI, Toledo and Columbus OH, and Milwaukee, WI.
Kent B. Wilson, CEO of Alpine 4, had this to say: "The merger of Deluxe Sheet Metal and Morris Sheet Metal will have enormous implications for the Mechanical Contractor industry in the American Midwest. The merger will provide positive impacts for the customers and communities we serve. These impacts will range from; better pricing and enhanced quality control, the latest in construction management technology, and a well-capitalized parent company ready to dominate the Midwest sector. Our competition, however, will have to reckon with these resources, thou I doubt they will be able to compete at our level in the market.
This merger will allow us to leverage complementary strengths between the two companies. Deluxe Sheet Metal can trace its roots back to the 1950's and is known in the industry as the go-to contractor for high-tech thermal management. Its customers range from the University of Notre Dame to GE and many other top-tier companies in the Midwest. The company recently built one of the largest crypto currency mining facilities in the Midwest, requiring precise thermal management. Morris Sheet Metal is the preferred contractor for one of the largest hospital networks in Indiana. During 2020 and the COVID 19 epidemic, Morris was responsible for building hundreds of isolation rooms. The combined company anticipates the benefits of that merger to drop the General & Administrative expenses by almost 7% in the first 12 months after the transaction. We also expect our gross profit margin to increase as our Material Cost of Goods will decrease by 5% due to increased purchasing power. The combined companies should reach revenues in excess of $50M, without major capital investments, within the next 36 months."
Deluxe and Morris have a combined 70 years' experience in the HVAC, Commercial and Industrial sheet metal fabrication industry.
Alpine 4: Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards but also increase value for our shareholders.
Contact: Ian Kantrowitz, VP of Investor Relationsinvestorrelations@alpine4.comwww.alpine4.com
Forward-Looking Statements: The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
SOURCE: Alpine 4 Holdings, Inc.
View source version on accesswire.com: https://www.accesswire.com/633973/Alpine-4-Holdings-Inc-ALPP-Announces-the-Merger-of-Deluxe-Sheet-Metal-Inc-and-Morris-Sheet-Metal-Corporation-to-Become-One-of-the-Largest-Sheet-Metal-Contractors-in-MidwestNorth-Central-US
The smoker you drink, the player you get.
Recent ALPP News
- Form 8-K - Current report • Edgar (US Regulatory) • 08/28/2024 08:01:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/21/2024 09:24:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/20/2024 08:47:20 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/16/2024 08:00:56 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/16/2024 01:19:39 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 05:00:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 09:26:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/28/2024 08:00:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/17/2024 08:09:12 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 08:02:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:57:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:21:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:17:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:13:44 PM
- Medigus: ParaZero Ramps Up Partnership with US-Based Autonomous Drone OEM Vayu Aerospace Corporation • GlobeNewswire Inc. • 02/22/2024 12:38:50 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/13/2024 04:35:53 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/12/2024 08:31:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/11/2024 09:29:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/03/2024 09:46:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 10:27:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 10:14:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 10:12:27 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM