Highlights its previously-announced “Build Up Strategy” of
acquiring complementary specialty service providers in the construction industry
Los Angeles, CA, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) today issued an update regarding recent corporate developments. The Company noted advancement of its previously-announced “Build Up Strategy” of acquiring complementary specialty service providers in the construction industry.
This corporate update is being provided to the Shareholders of Endonovo as well as parties interested in following the corporate strategies of the Company to better understand Endonovo in its activities to more rapidly build up revenues and profits to bolster both near and long- term shareholder value.
Essentially, Endonovo has embarked on a strategy to rapidly build up its top line revenue and profits through acquisitions within what is broadly called the construction industry. More specifically, Endonovo is focused on acquiring trade specialty companies used by general contractors and state/federal/local municipalities. The Company is looking for acquisition targets that exhibit some or all of the following characteristics:
- Approximately $12 to $100 million in annual revenues;
- 15% to 30% in Earnings Before Income Taxes Depreciation and Amortization (EBITDA) with a minimum of approximately $4-5 million;
- Has an historical growth track of from 10% to 20% + per annum with Continued Annual Growth Rate (CAGR) for the future;
- Has a geographical expansion capability, an ability to expand its product/service line or both;
- Where possible, existing management will continue with the company for an extended period post-closing with an understanding of where the Endonovo can bring in best business practices to enhance management and operations;
- Opportunities where there may be cross selling opportunities;
- The Target operations are in geographic locations where the demographics demonstrate continued expansion and growth of major companies where economic factors become less of an issue during national economic downturns.
The Company emphasizes that it is not pursuing the typical “roll up” strategy but rather, a “build up” strategy more focused in on how each corporate unit can be profitably expanded/grow on its own.
Since the Company started this program in July of 2021. It has a signed purchase agreement with Western Star Concrete which Endonovo is looking to close sometime in December of this year and are in early discussions with two additional entities looking to be acquired. One is a marine pylon and footing company in the Northeastern U.S. and the other a roofing company with a national footprint where ultimately the customers/account debtors are reimbursed by investment grade credit-worthy insurance carriers.
All three acquisition targets have stated/unaudited 12-month trailing financials indicating about $50 million in revenues each and from $5 million to $6.3 million EBITDA each
We have a full-time staff researching opportunities in the market. They produce 3 to 7 new leads per month with many initial discussions occurring and “cherry picking” what we believe to be the best opportunities in the market sector.
About Endonovo Therapeutics, Inc.
Endonovo Therapeutics is now structured into two divisions: Legacy – a commercial-stage developer primarily of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives with many of its products marketed under the SofPulse® brand name; and its Build Up Strategy – acquiring complementary specialty service providers in the construction industry.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Steve Barnes
(800) 701-1223 Ext. 108
sbarnes@endonovo.com
www.endonovo.com
Media Contact:
Gregory A. McAndrews
Greg McAndrews & Associates
(310) 804-7037
greg@gregmcandrews.com
