CriticalControl Solutions Corp.
TSX : CCZ

CriticalControl Solutions Corp.

April 04, 2011 09:01 ET

CriticalControl Acquires Gas Measurement Business Based in Buckhannon, West Virgina

CALGARY, ALBERTA--(Marketwire - April 4, 2011) - CriticalControl Solutions Corp. (TSX:CCZ) ("CriticalControl") today announced that it has acquired certain assets of Gas Measurement and Integration of Buckhannon, West Virginia ("GMI") for $1.2 Million through its wholly owned United States subsidiary, GAS Analytical Service, Inc. The business of GMI acquired by CriticalControl include the provision of gas measurement products and services, inclusive of gas chart integration, to clients in the Appalachian Basin in North Eastern United States. 

Based on GMI management prepared financial statements, the company generated revenue of $0.8 Million and earnings before interest, taxes, depreciation and amortization of $0.3 Million in 2010. $0.4 Million of the purchase price was paid at closing with the remaining $0.8 Million payable over a two year period. 

"Given the proximity of GMI to our existing operations, we anticipate generating both cost savings and synergies in the combined operation," said Alykhan Mamdani, President and CEO of CriticalControl. "The addition of GMI's customers provides us with the opportunity to leverage the provision of our broader base of services to supplement GMI's primarily recurring revenue."

About CriticalControl:

CriticalControl enables its clients to increase operational performance through the better control of critical business information. Integrating technology with labour intensive processes of imaging and data entry, CriticalControl empowers its clients to increase their competitiveness, reduce operating expenses and improve margins. For more information please visit www.criticalcontrol.com.

Forward Looking Statement:

The cost savings and synergies expected from the acquisition of GMI is a forward looking statement. The realization of cost savings and synergies will be dependent upon management's success in integrating GMI's business into CriticalControl's local operating subsidiary and retaining GMI's client base, the success of which cannot be assured. In addition, there can be no assurance of CriticalControl's success in cross selling its broader range of services into GMI's client base to increase the value of GMI's business.

Contact Information

  • CriticalControl Solutions Corp.
    Alykhan Mamdani
    President & CEO
    (403) 705-7500