SOURCE: Leisure Direct, Inc.

September 06, 2007 09:59 ET

Leisure Direct Inc. Signs LOI With "MODEL" Industry Leader

PERRYSBURG, OH--(Marketwire - September 6, 2007) - Leisure Direct, Inc. (OTCBB: LDTI) announced today that it has signed a Letter of Intent (LOI) with a dealer that will become its "MODEL DEALER" as the company rolls out its plan to acquire 50-60 dealers over the next 3-5 years. With sales of over $5 million and an EBITDA of between 15-20%, this will become the Flagship Dealer against which all other acquisitions will be measured. The standardization and processes under which this dealer operates, will shorten the due diligence time for other acquisitions.

John R. Ayling, Leisure Direct's Chairman and CEO, stated, " We have been in negotiations with the principal for over 1 1/2 years and share the same vision for the consolidation of our industry per our Business Plan. He has agreed to stay with the company and train LDI's personnel. He will also help LDI source and analyze other possible dealer acquisitions. Utilizing the expertise obtained with this acquisition, we believe we will be able to acquire other strategically placed dealers with mediocre results and increase their margins. Most dealers can be purchased for between 1-3 times EBITDA; however, the added expertise from this acquisition will enable LDI to operate with a Return on Investment (ROI) over 50%."

Leisure Direct Inc. has been approached and is in discussions with several financing sources, including two institutional companies that will allow LDI to execute its Business Plan. These potential financings will include both debt and equity.

Leisure Direct Inc. is in different stages of due diligence for several acquisitions of other dealers and manufacturers of related products which include swimming pools, spas, infrared saunas, grills and fireplaces.

For information about Leisure Direct's Business Plan, please click on the following link. Potential investors should pay particular attention to the section (Rational For Investment) on the bottom of page 3.

About Leisure Direct, Inc.

It is the mission of LDTI to become the premier, highest quality and most nationally recognized manufacturer and direct marketer of pool, spa/hot tub, and outdoor recreational products in the United States. LDI will implement its strategy by acquiring existing dealers and manufacturers of backyard entertainment products and building a direct marketing distribution network.

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

Contact Information

  • Contact:
    John R. Ayling
    Chairman and CEO
    Leisure Direct, Inc.
    (419) 873-1111
    1070 Commerce Drive, Building II - Suite 303
    Perrysburg, OH 43551