NEW YORK, NY, April 06, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — ILUS International Inc (OTC: ILUS) is a mergers and acquisitions firm focused on acquiring and growing public safety technology-based businesses around the world. After completing the acquisition of seven companies since January 2021, the company has now agreed in principle to move forward with the acquisition of an impressive fire suppression systems company in the US state of Florida. The company currently generates revenues of approximately $3 million per year, serves several well-known customers in its region and has recently won major new contracts. It also holds tremendous growth potential and is extremely well aligned for the launch of ILUS’ own fire suppression technology in the United States.
“While we have made tremendous progress on the acquisition front in general, we felt it was important to announce this proposed acquisition primarily because it marks our significant entry into the US extinguishing systems market. Our subsidiary ERT is making strong progress, so we believe this is the optimal time for us to enter the US market for our fixed system technology which resides within our subsidiary Integrated Systems. own water mist fire suppression systems for kitchen fires, electric vehicle battery fires and more are going well, so it’s important that we have the right channel, technical expertise local and existing customer base in the U.S. when we kick off there. For us, there is no better way to achieve this than with a profitable acquisition that com has great clients on its books, is already growing rapidly and is poised for serious expansion,” said ILUS CEO Nick Link.
After completing its first round of due diligence, followed by negotiations, ILUS signed a letter of intent with the Florida-based company and is now moving into the final phase of due diligence to complete the acquisition. After strong growth in 2021, the planned acquisition kicked off 2022 very strongly as it signed major new contracts with major brands in Florida and with the involvement of ILUS, the company is now very well positioned for future expansion . The company currently serves well-known clients such as Universal Studios and many international hotel and restaurant chains. The planned acquisition currently assembles, installs and services stationary fire suppression systems from leading global brands, with ILUS planning to deploy its own water mist fire suppression technology in the United States through of the society. The proposed acquisition operates from suitable offices and warehouses and has several vehicles for installation and maintenance, however, as with recent US acquisitions made by ILUS, the company will move to larger premises in its current area. to execute new contracts and support its growth.
“This planned acquisition should be timely to go hand-in-hand with the development and certification of our own fire suppression system. It will also serve as the initial basis for our integrated systems in the United States, which is also important given the very large potential projects we are discussing there for innovative fire suppression systems. The company has experienced management and staff and on its own I believe it is already on track to double its revenue year over year. However, with our expansion plans and the addition of our own disruptive technology, I believe the business can grow exponentially,” said John-Paul Backwell, CEO of ILUS.
Once complete, the planned acquisition will play a key role in accelerating the development of fire suppression products at ILUS-owned FireBug Technologies. It is also expected to complete the acquisition of Middle East fire protection systems by ILUS, BCD Fire, which currently has a sales pipeline of over $10 million in Dubai and Saudi Arabia and expects to significant new orders in the second quarter. In addition to several acquisitions already underway, some of which have signed letters of intent but have not been announced despite expected completion in the second quarter, ILUS plans to acquire other fire suppression businesses in the United States. United States, United Kingdom and Europe.
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