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Q2Earth Signs Definitive Agreement to Acquire Major Florida Soil Manufacturer, Environmental Turnkey Solutions
Aug. 30, 2017 09:05AM PST
Cleantech Investing
Q2 Earth (OTCQB:QPWR) has announced that it has signed a definitive Purchase Agreement with Environmental Turnkey Solutions to acquire 100 percent of the membership interests of Environmental and its wholly-owned subsidiaries. As quoted in the press release: ETS is one of the largest green waste hauling and compost manufacturing companies in Florida, with operations that …
Q2 Earth (OTCQB:QPWR) has announced that it has signed a definitive Purchase Agreement with Environmental Turnkey Solutions to acquire 100 percent of the membership interests of Environmental and its wholly-owned subsidiaries.
As quoted in the press release:
ETS is one of the largest green waste hauling and compost manufacturing companies in Florida, with operations that span the state’s west coast. The company is generating approximately $7.5 million revenue and $1.7 million EBITDA on an annualized basis, not including forecasted growth from recently signed contracts and a facility acquisition that could substantially increase their operating revenue and earnings over the following 12 months. The company provides green waste hauling under long term contracts, and then manufactures and sells high quality soils to major customers that include Scotts Miracle-Gro, Old Castle and large-scale agricultural firms.
“The signing of this purchase agreement with ETS marks a major milestone for Q2Earth and its shareholders,” stated Kevin Bolin, Chairman and CEO of Q2Earth. “With the closing of ETS, we will immediately become a major player in the soil and compost manufacturing sector in Florida, with a solid platform company and strong operational management to expand aggressively throughout the state and beyond.”
ETS’ principals have collectively over 90 years of experience in waste management, organics recycling, compost manufacturing, and logistics. ETS’ CEO, Anthony Cialone, will become Executive Vice President of Q2Earth upon closing under a multi-year agreement.
“We are excited to move one step closer to completing the combination of our two companies,” stated Mr. Cialone, the CEO and co-founding member of ETS. “We believe the skill sets of our team match very well with Q2Earth’s executive team and impressive Board, and together we can execute on some major business opportunities to grow our operations, expand our product distribution, and close on some synergistic follow-on acquisitions already identified.”
