Speedemissions, Inc. Makes Acquisition -- Buys 5 Emissions Testing Stores from Auto Emissions Express, LLC
ATLANTA, Dec. 4, 2012 /PRNewswire/ -- Speedemissions, Inc. (OTC Bulletin Board: SPMI - News), a leading vehicle emissions testing and safety inspections company announced today that it has acquired five (5) vehicle emission testing stores from Atlanta based, Auto Emissions Express. The transaction, which closed on December 1, 2012, increases the Speedemissions business to 19 Atlanta stores, making it the number two vehicle emission test only chain in the entire Atlanta market.
President/CEO, Rich Parlontieri, stated, "We are pleased to make this announcement today. Not only because of what it adds to the top line revenue, but also because it broadens our presence on the south side of Atlanta as well. Purchasing these five (5) Auto Emissions Express locations underscores our commitment to expanding our existing business by making key strategic acquisitions.
Along with growing the company through this transaction, we are excited about our newly announced franchise model, the introduction of our emission repair business pilot program and the expansion of the CARbonga iPhone®, iPad® and iPod touch® app," added Parlontieri.
Speedemissions, Inc., based in Atlanta, Georgia, is a national brand offering our customers quick and efficient emissions testing and safety inspections as required by law. The company is in the Atlanta, GA., Houston, TX., St. Louis, MO. and Salt Lake City, UT. markets. The company is now expanding its business by selling Speedemissions Car Care franchises and providing an emissions repair business segment.
Speedemissions owns and develops the CARbonga line of apps for smart phone users. CARbonga is the first app which allows the average person to detect automotive car problems for their own vehicle or when buying a used vehicle. This app is used via their iPhone®, iPad® and/or iPod touch®. It should be available on Android® smart phones later this year.
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Speedemissions' products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.
For Further Information: Contact Rich Parlontieri, (email@example.com or 770-306-7667)
® iPhone, iPad and iPod touch are registered trademarks of Apple, Inc.
® Android is a registered trademark of Google, Inc.
SOURCE Speedemissions, Inc.
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