PHOENIX, AZ / ACCESSWIRE / April 28, 2021 / Alpine 4 Holdings, Inc. (OTCQB:ALPP), a leading operator and owner of small market businesses, is pleased to announce that its holding subsidiary, A4 Defense Systems, Inc. (A4DS), has entered into a definitive purchase agreement to acquire Thermal Dynamics International, Inc. (TDII), a Fort Myers, Florida company. A4DS and TDII expect to meet closing conditions of the definitive purchase agreement by May 17, 2021. Similar to its prior acquisitions, the company will escrow Paycheck Protection Program (PPP) funds while working with the Small Business Association (SBA) and TDII's Bank regarding forgiveness of the PPP loan they provided to TDII. This will enable the transaction to continue moving forward seamlessly.
Thermal Dynamics International, Inc. is an international engineering, fabricator, and project management services company. TDII's primary client is the United States Federal Government, including the Department of Defense (DOD) and Department of State (DOS). TDII specializes in managing complex project assets and infrastructure for its customers, including support services for the thermal engineering and design of US Embassies and Consulates worldwide.
Kent B. Wilson, CEO, had this to say, "The formation of A4 Defense Systems, Inc., was in response to the growing demand from our A4 Aerospace, Inc. holdings to have a bifurcated platform to extend our offerings to the growing needs of the US Federal Government and its allies. While TDII is a non-aerospace acquisition for us, it does put us firmly in bed with the US Federal Government. For the past 34 years, TDII has been a pillar of support for the Department of State and its complex embassy and consulate system worldwide. The company, on average, generates between $9 million and $13 million in annual sales. Further, with the addition of TDII, the Alpine 4 family of employees is now over 350 strong, and spans across 6 states that proudly build, design and manufacture in the USA. Over the next 18 months, the ALPP and TDII management teams will enact several capital purchases that will allow TDII to grow in excess of $50 million by the end of 2025. I hope all shareholders and employees will join me and welcome our new employees to the family!"
About Alpine 4 Holdings: Alpine 4 Holdings, Inc. (ALPP) is a publicly traded conglomerate that acquires businesses that fit into its disruptive DSF business model of Drivers, Stabilizers, and Facilitators. At Alpine 4, we understand the nature of how technology and innovation can accentuate a business. Our focus is on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. We also believe that our holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas and create fertile ground for competitive advantages.
Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but also increase value for our shareholders.
Forward-Looking Statements: The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
SOURCE: Alpine 4 Technologies, Ltd.