BTGI News on acquisition complete! Bulova Techn
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Posted On: 07/21/2017 11:14:15 AM
BTGI News on acquisition complete!
Bulova Technologies Group, Inc. Announces Acquisition of Trucking Company
LARGO, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. (BTGI) announced today the completion of the acquisition of Big Red LTL Transport, Inc., a New Jersey based trucking company with 27 trucks, 38 refrigerated trailers and 38 customers with hubs in both Netcong, New Jersey and Chicago, Illinois. The purchase was financed by Peoples Bank, a new lender to the Company.
Stephen L. Gurba, President and Chief Executive Officer of the Company, stated, “This acquisition is an important addition to the growth of Bulova Technologies’ family of transportation companies. Our transportation companies will now serve additional regions to complement our strong Florida presence. Big Red should increase our overall sales by $12 million annually. Our transportation business should now increase in our fiscal 2018 to well over $40 million in sales annually. We continue to look for strategic acquisitions in the transportation business.”
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc., Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC, BT-Twiss Transport LLC’s and Big Red LTL Transport, Inc. headquarters are all located in Largo, Florida.
Bulova Technologies Group, Inc. Announces Acquisition of Trucking Company
LARGO, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. (BTGI) announced today the completion of the acquisition of Big Red LTL Transport, Inc., a New Jersey based trucking company with 27 trucks, 38 refrigerated trailers and 38 customers with hubs in both Netcong, New Jersey and Chicago, Illinois. The purchase was financed by Peoples Bank, a new lender to the Company.
Stephen L. Gurba, President and Chief Executive Officer of the Company, stated, “This acquisition is an important addition to the growth of Bulova Technologies’ family of transportation companies. Our transportation companies will now serve additional regions to complement our strong Florida presence. Big Red should increase our overall sales by $12 million annually. Our transportation business should now increase in our fiscal 2018 to well over $40 million in sales annually. We continue to look for strategic acquisitions in the transportation business.”
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc., Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC, BT-Twiss Transport LLC’s and Big Red LTL Transport, Inc. headquarters are all located in Largo, Florida.
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