NEXGEN HOLDINGS, Corp. Continues to Expand Through Acquisitions by Acquiring CTB Pools
(Marketwire Via Acquire Media NewsEdge) MESA, AZ -- (Marketwired) -- 07/30/14 --
NexGen Holdings, Inc. (PINKSHEETS: XGEN) announced today that it has completed the acquisition of Phoenix based CTB Pools,LLC a profitable and established 16 year old company in the swimming pool maintenance and repair business.
CTB Pools, LLC brings to NexGen an additional $400,000 in profitable annual revenue and with the consolidation of the maintenance and repair operations of Cameo Pools and Paddock Pools will operate as a wholly owned subsidiary which will manage annual revenues of $ $1,495,000.00. With the departure of Craig Maggi, Cliff Brummett will assume operational control over this subsidiary for NexGen.
John Myers, CEO of both NexGen Holdings and NexGen Pools and Spas, stated, "This acquisition further strengthens our offerings, brings additional revenue and earnings as well as an experienced management team and staff that brings needed depth to our current maintenance and repair divisions inside Paddock and Cameo."
Cliff Brummett, Managing Member of CTB Pools, LLC said, "What excited me about being acquired by NexGen, is it will allow me to grow my Company the way I've wanted for some time, while being able to provide better service to our combined customers while the Company enjoys cost saving through consolidation."
Steven Vollaro, President of Cameo & Director of Sales for NexGen Pools & Spas said, "I've worked with Cliff for years and I know our customers will benefit from his relentless pursuit of quality service -- and he has always done this while generating strong profits. I know our team will generate strong profits under his guidance as well.
The Company will market CTB's services as follows; Paddock Pools or Cameo Pools Service by CTB Pools, LLC, a NexGen Company.
About NexGen Holdings, Corp.NexGen Holdings, Corp. is a public holding company that is an acquirer and operator of fundamentally sound subsidiaries that are market accepted, scalable and demonstrate a quantifiable value proposition. To enhance shareholder value our focus is on establishing a foot print in a specific industry through the acquisition of a subsidiary that has strong market presence, brand awareness, talented and dedicated management teams with the potential to achieve exceptional performance over time. Once acquired, these companies can expand through additional acquisitions, aggressive marketing and access to our operational support, management approach, and ability to access financial markets for operational and growth capital to build a market leader. NexGen Holdings,Corp. has currently has two subsidiaries: WindPower Solutions Inc., which repairs and remanufactures wind power turbines and solar power plants for operators across the U.S., and NexGen Pools and Spas, Inc which operates Cameo Pools & Paddock Pools ., that builds and renovates swimming pools and markets outdoor products to consumers in the Phoenix, Arizona Metropolitan Area. -- For more information go to our websites at: www.wpienergy.com, www.cameopools.com
About NexGen Pools and Spas, Inc.NexGen Pools and Spas, Inc. is the subsidiary of NexGen Holdings, Inc. that focuses on acquiring, and managing growth companies selling outdoor products that deliver the 5 (five) essential elements for a successful "backyard" experience"; Water, Fire, Food, Furniture & Music. For more information, go to our website at; www.nexgenpools.com
About Paddock PoolsPaddock Pools, has been a recognizable brand in the Arizona swimming pool market for over 55 years. Paddock has built pools for many of the large resorts including the popular area water parks and tens of thousands of pools in homes since the brand was founded in 1958. The Company offers a full product line including Backyard furniture, spas, fire-pits and new and remodeled swimming pools. Customers can also purchase their pool supplies at the store or online. Paddock also offers swimming pool maintenance and repair services. For more information visit our website at www.paddockpools.net
About Cameo PoolsCameo Pools is a NexGen company that focuses on delivering to consumers the 5 (five) essential elements for a successful "backyard" experience; Water, Fire, Food, Furniture & Music as it has for over 37 years, with such well known-quality brand names as Cameo Pools, Cameo Landscaping, & Cameo Solar. As the oldest swimming pool builder in Mesa, Arizona, Cameo has been committed to excellence for so long that we are able to offer a valuable lifetime warranty on the hand-crafted products we create for our customers. Cameo repairs, maintains designs and installs swimming pools, water features, spas, outdoor furniture and landscaping and solar options. For more information, go to our website at: www.cameopools.com
Forward-Looking Statements Disclaimer:This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding NexGen Holdings, Inc. expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to NexGen Holdings, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
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Source: NexGen Holdings Corp
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