SAN DIEGO, April 21, 2011 /PRNewswire/ -- Sycamore Ventures (Pink Sheets: SYVN) announced today that the company has signed a letter of intent to acquire Glen-Mac Swiss Company and American Valve Manufacturing Corporation. Glen-Mac Swiss Company is a 46 year old company specializing in parts manufacturing for commercial use and is located in Hawthorne, California. Established in 1983, American Valve Manufacturing Corporation produced highly specialized charging valves for military and commercial applications and located in Hawthorne, CA. Combined revenues for both companies are approximately $1.9 million per year. Pending necessary due diligence, the transactions are expected to close within 30 days of the signing of the LOI.
Harsh Shetty, CEO of Sycamore Ventures stated, "We feel that these acquisitions, when completed, will help to further diversify Sycamore's holdings while adding revenues and contributing to earnings. Both companies are firmly entrenched in their industries, generating solid sales and have significant potential for future growth."
About Sycamore Ventures
Located in San Diego, California, Sycamore Ventures was formed with the intent to develop into a broadly diversified holding company. For additional information on Sycamore Ventures, please visit www.syvn.net.
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SOURCE Sycamore Ventures