QE2 Acquisition Corp.

QE2 Acquisition Corp.

October 30, 2013 07:30 ET

QE2 Acquisition Corp. Announces Closing of Their First Acquisition: an Alberta Based Specialized Utilities Services and Maintenance Company and Addition to the Senior Management Team

CALGARY, ALBERTA--(Marketwired - Oct. 30, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

QE2 Acquisition Corp. ("QE2") has completed its first acquisition of a highly successful specialized utilities services and maintenance company ("Acquired Company") for a purchase price of $1,214,000 plus working capital, subject to post-closing adjustments. Detailed information on the name, company profile and financial structuring of the Acquired Company will be released in mid November.

The Acquired Company is a leader in specialized utilities services and maintenance, flagging, and traffic management. Operating profitably for 16 years, the business of the Acquired Company has grown and expanded significantly with operations in Alberta and Saskatchewan. The Acquired Company's customers primarily consist of municipalities and utility companies.

For the year ended 2012, revenue for the Acquired Company was approximately $3.4 million and EBITDA (earnings before interest, taxes, depreciation and amortization) was approximately $0.5 million. QE2 is projecting $3.9 million in revenues and $0.6 in EBITDA for 2013. Since 2009, the Acquired Company has grown revenue by nearly 80%, gross profit by 130%, and EBITDA by 95%. "QE2's strategy is to continue to enhance organic growth of the Acquired Company from synergies realized by integration opportunities and availability to capital," states Mihalis Belantis, CEO of QE2.

QE2 would like to welcome Alexis Meinzer to the Senior Management team as Executive Vice-President ("EVP"). Over the last 10 years, Ms. Meinzer has been an integral contributor to the advancement of organizations from start up to cash flow positive across a wide variety of industries including: real estate, government, IT, oil & gas, tourism and not-for-profit. "Her experience in private equity, marketing and sales, as well as her hands-on entrepreneurial accomplishments provide a broad perspective allowing her to springboard our acquisitions to the next level," explains Claudio Pucci, QE2 Director. As EVP for QE2, Ms. Meinzer's focus will be on post closing integration development & execution, corporate alignment & synergistic development for platform vertical/horizontal integration of business units, awareness & perception management of QE2 in the market and overall advancement of QE2 strategic objectives.

This press release contains forward-looking statements. More particularly, this press release contains statements concerning financial projections for the Acquired Company. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by QE2, including with respect to the anticipated timing for acquiring existing private service businesses. Although QE2 believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because QE2 can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These risks include, but are not limited to, the fact that the future availability of capital on favorable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of QE2. The forward-looking statements contained in this document are made as of the date hereof and QE2 undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

About QE2 Acquisition Corp ("QE2"):

QE2 is a forward thinking, Calgary founded firm that acquires a diversified range of profitable, well managed, asset backed private infrastructure and utilities businesses across Alberta. QE2's growth strategy is a mergers and acquisitions program; which leverages the synergies that can be achieved by vertical and horizontal integration. www.qe2corp.com.

Contact Information

  • QE2 Acquisition Corp.
    Alexis Meinzer
    Executive Vice President
    (403) 478-0055 or Cell: (403) 617-4411
    (403) 770-8468 (FAX)
    am@qe2corp.com
    www.qe2corp.com