SOURCE: Enviro-Serv, Inc.

October 14, 2014 08:40 ET

Enviro-Serv, Inc. Announces Letter of Intent With South-West Based Florida Pest Control Operation

TAMPA, FL--(Marketwired - Oct 14, 2014) - Enviro-Serv, Inc. (http://www.enviro-serv.com/) (OTC Pink: EVSV) (PINKSHEETS: EVSV), which targets highly profitable small service companies in the commercial and residential property maintenance industry, is pleased to announce an additional letter of intent to acquire a long standing full pest control operation.

Chris Trina, CEO and Chairman stated this to shareholders, "In an effort to continue to execute on our original business plan of 2013 we have identified and met with a medium sized full service pest control operation over the last few weeks. These meetings were a huge success and I am very proud to announce we have executed another letter of intent to acquire the assets of this operation. Once again the name must be kept confidential to the public but has been given to the SEC as part of our amended REG-A filing that is ongoing with the SEC."

Trina was very excited to explain this, "This Company has two full time employees and generates revenues around $150,000 annually with nice gross margins. It has pristine equipment and a very loyal long standing clientele. They are based in the pest control boom area of Southwest Florida and are 25 plus years old. The seller is very eager and motivated to sell and terms of the structure are already underway. Light due diligence has already commenced but further due diligence will be needed to finalize the purchase price. The seller will take about 50% of agreed upon purchase price in cash and hold a note for the remainder. The cash for this deal will come from either our yet to be qualified REG-A offering or other sources if need be. I want this company added to our portfolio of proposed target companies and truly believe we can own this fairly quickly."

Trina ended his comments by updating his shareholder's on current events, "The time line for the full service A/C company acquisition remains on target and due diligence will commence by the end of October. I speak to the seller regularly and he and I are on the exact same page and eager to continue forward on this project. Tomorrow, Oct. 15th marks the original deadline of the proposed pest control acquisition originally announced last May. Due to confidential reasons that I cannot go public with but having to do with our yet to be qualified REG-A offering we don't have the resources to close this deal in a timely manner. The seller has been very aware of this funding shortfall and is aware of the causes of the shortfall as well. The seller has offered an extension of time which we believe to not be sufficient enough and negotiations have begun to extend their offer. There is much more to this situation than meets the eye and I promise everybody both parties have shown great interest to make this deal happen."

"These three acquisitions mark a significant benchmark in the company's overall growth and I'm thrilled to have worked tirelessly on behalf of shareholders to bring us to this point. I will continue to work diligently to close each and every one of these deals."

The company looks forward to issuing further updates as it continues to achieve benchmarks toward long-term success for Enviro-Serv and its shareholders.

Enviro Serv, Inc. (OTC Pink: EVSV) (PINKSHEETS: EVSV) is a Tampa based corporation specializing in providing property maintenance services in geographically concentrated warm climate states. Through an aggressive acquisition strategy, the Company is building a portfolio of highly profitable enterprises that offer year round services such as pest control management, lawn and landscaping care, pool maintenance, air conditioning/refrigeration installation and repairs and a host of additional onsite maintenance offerings. Please visit our websites at www.enviro-serv.com and www.xterminateinc.com to learn more.

Forward-Looking Statements -- This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely solely on such statements. The forward-looking statements in this release are made as of the date hereof and Enviro-Serv, Inc. undertakes no obligation to update such statements.

Contact Information

  • CONTACT:
    CHRIS TRINA
    CEO
    Enviro-Serv, Inc.
    813-975-7177