WEST CONSHOHOCKEN, Pa., March 8, 2012 /PRNewswire/ -- Equisol LLC, a wholly-owned subsidiary of Environmental Infrastructure Holdings (OTC BB: EIHC), which is the parent company of various environmental manufacturing, engineering and services companies, announced that it signed a letter of intent to purchase 100% of the stock of FBC Technologies, Inc.
FBC Technologies (FBCTech.com) has been one of Equisol's vendors and is a manufacturer of a patented product line of energy efficient wastewater treatment systems that are used in the United States, Canada and the United Kingdom. FBC's complete line of engineered systems includes the Bio2Bloc® and O2ctopus® aerobic treatment technologies. The Bio2Bloc® system has been used successfully by industrial and municipal wastewater plants to reduce odors, reduce BOD, and eliminate ammonia from effluents. The O2ctopus® is the first floatable, surface-maintainable, fine-bubble diffusion system on the market. It is designed for rapid installation, to immediately boost the dissolved oxygen levels necessary for treatment plant operations.
FBC's unique product designs have enabled the Company to establish a foothold in a $10 billion dollar industry that is traditionally resistant to new ideas. Currently, the Company has $6.2 million in outstanding proposals. According to its business plan, FBC Management has developed a strategy that will accelerate market penetration and position FBC as a leading supplier of versatile and cost-effective water treatment systems. The plan projects sales of approximately $34 million and $6 million EBITDA by 2016.
Klaus Siebert, FBC's CEO states "FBC has been searching for a strong strategic partner to assist in execution of its business plan. In Equisol, FBC has found that Partner. We will now also be able to commercialize several products and services currently in development."
Kurt Given, Equisol's CEO states "We are pleased to have our relationship with FBC continue to grow. Equisol has always been environmentally driven and strives to assist its customers meet their environmental challenges and FBC has these same core principles."
The transaction is planned to close by June 1st once required funding is completed.
About Environmental Infrastructure Holdings Corp.
Environmental Infrastructure Holdings (EIHC) is the parent company of diverse environmental manufacturing, engineering and services companies. Currently, EIHC has one subsidiary Equisol LLC as well as investments in various joint ventures and partnerships.
Recognized in 2008 by INC Magazine as the 7th fastest growing private environmental services company in America, Equisol LLC, is a unique equipment solutions provider specializing in the water and wastewater industry. Its team of top-rated engineers specializes in automation equipment and services across multiple industries where water use and automation are important.
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, acquisitions, new product development, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
SOURCE Equisol LLC