SOURCE: Sullivan International Group, Inc.

Sullivan International Group, Inc.

September 12, 2014 10:06 ET

Sullivan Cancels MOU With EQM Regarding Potential Merger

SAN DIEGO, CA--(Marketwired - Sep 12, 2014) - Sullivan International Group, Inc. ("Sullivan"), San Diego's premier provider of environmental services to government and commercial sectors, announced today that it has cancelled the non-binding memorandum of understanding (the "MOU") executed on January 21, 2014 with EQM Technologies & Energy, Inc. (OTCQB: EQTE) ("EQM") regarding the potential merger of Sullivan and EQM. "Though we were unable to complete a merger at this time, we still plan to continue to cultivate the successful relationship we have forged with EQM over the past decade, leveraging the opportunity to combine forces where it makes sound strategic sense for both firms moving forward," said Steve Sullivan, Chief Executive Officer of Sullivan.

About Sullivan International Group, Inc.

Sullivan, based in San Diego, CA, is an award winning provider of environmental services to include, consulting & engineering, environmental technologies, energy services and remediation & construction management to both the private and federal sectors, with approximately 168 employees and satellite offices and operations in 10 states. Ranked as one of the nation's top 200 environmental firms by Engineering News record (ENR) in 2013, Sullivan serves numerous federal agencies, including the Environmental Protection Agency, Department of Defense (including the Air Force Center for Engineering & Environment, Naval Facilities Engineering Command, and the Army Corps of Engineers), as well as private sector clients across multiple industries. For additional information, please visit www.onesullivan.com.

About EQM Technologies & Energy, Inc.

EQM, based in Cincinnati, OH, is a leading provider of environmental services -- consulting & engineering, clean technology, and remediation & construction management -- to the public and industrial sectors, with approximately 204 employees and satellite offices and operations in 11 states. EQM has longstanding relationships and multi-year contracts with numerous federal agencies, including the Environmental Protection Agency and the Department of Defense (including the Air Force Center for Engineering & Environment, Naval Facilities Engineering Command, and the Army Corps of Engineers), as well as private sector clients across numerous industries. For more information, please visit www.eqm.com.

This press release may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as "may," "will," "expect," "project," "estimate," "anticipate," "plan," "believe," "potential," "should," "continue" or the negative versions of those words or other comparable words. These forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to us and our current plans or expectations, and are subject to a number of uncertainties and risks that could significantly affect current plans, anticipated actions and our future financial condition and results. The uncertainties and risks include, but are not limited to, our ability to successfully implement our business strategy, changes and fluctuations in the U.S. public sector's spending priorities, changes in laws and regulations related to the protection of the environment, our need for additional financing and the availability and terms of any such financing, and our ability to successfully integrate acquired businesses and realize anticipated synergies. Certain of these risks and uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact
    Sullivan International Group, Inc.
    Kevin Hayford
    619-260-1432, Ext 2910
    Marketing Director
    Fax: 619-260-1421
    Email Contact

    Contact
    EQM Technologies & Energy, Inc.
    Robert R. Galvin
    800-229-7495 or 513-742-7219
    Chief Financial Officer
    Fax: 513-825-7495
    Email Contact