AUSTIN, TX / ACCESSWIRE / October 21, 2014 / AVEW Holdings Inc. (OTC Pink: AVEW) (PINKSHEETS: AVEW) today announced that the company has acquired Tarragon Homes LLC, www.tarragon-homes.com (LIC#: TE33200) a custom home builder and remodeler serving the Austin Texas area. Tarragon Homes builds custom homes from contemporary, ranch and luxury homes from 900 square feet to 9000 square feet. Chris D. Wood, founder and President of Tarragon Homes LLC has over a decade of experience building high-end custom homes and high-end renovations in central Texas and the lake areas. Prior to his work in custom building Mr. Wood spent seven years in the mortgage and consumer lending in both the Texas and national markets.
Tarragon's 2013 revenues were at $1.6 million in remodeling work and revenue for 2014 is tracking at $2.5 million range with 2015 revenues projected to reach over $5 million dollars.
Mr. Wood will run Tarragon Homes as a division of AVEW Custom Builders, a new division created to handle custom building, commercial building and real estate acquisitions. Mr. Wood will also act as the Director of AVEW Custom Builders. AVEW has secured construction financing for new custom construction projects in the Central Texas Region. Mr. Chris Wood stated, "Tarragon Homes is very excited to join the AVEW family of construction oriented enterprises, rounding out a full service provider of quality, custom built home remodeling, renovation and new build services. In joining the AVEW family, Tarragon Homes has access to an in-place management and financial structure that will allow substantial growth in a rapidly expanding residential market in central Texas as well as the launching pad to expand our proven ability to deliver quality custom home improvements and construction services to a broader market."
Tarragon Homes LLC, was recently rated by BuildZoom in the top 10% of over 222,249 contractors in Texas. BuildZoom is the worlds' largest repository of information on contractors.
Mr. Chavez, CEO of AVEW Holdings stated, "The acquisition of Tarragon Homes complement's AVEW'S business model of specialty construction and adds to its current Austin Patio & Outdoor Living Company." He continued, "the projected revenues and targeted construction projects will accelerate AVEW Holding's to surpass the anticipated 2015 revenues of $12 million. The marketplace will have a better understanding why the new management increased the authorized share structure to allow this and other acquisitions with restricted stock and expects the release of the company's financials to better reflect the growth and its structure over the coming quarters."
About AVEW Holdings Inc.:
AVEW HOLDINGS is a full service pool, spa and landscape design and construction company. Austin Premier Pools & Spas is a custom pool design and construction company that has won national and regional pool construction and design awards. Fantastic Pool Services is a maintenance and pool repair company doing business in central Texas. Austin Patio & Outdoor Living is a new and residential remodel Construction Company servicing central Texas. Austin Patio also designs and installs landscaping and outdoor living kitchens, fireplaces, cabanas, and decks. Kustom Fence and Construction Company is a custom fence designer and builder serving the Texas Hill Country.
Safe Harbor Statement:
AVEW cautions that statements made in press releases constitute forward-looking statements, and make no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
CONTACT:
AVEW HOLDINGS INC.
Shareholder Relations
S.T.A.T Group
Craig Fischer
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512-436-9496
SOURCE: AVEW Holdings, Inc.