#Endonovo #Therapeutics #Signs #Definitive #Asset #Purchase
Los Angeles, CA., Sept. 27, 2022 (GLOBE NEWSWIRE) — Endonovo Therapeutics Inc. (OTCQB: ENDV) and Western Star Concrete LLC, a highly profitable Texas concrete construction company located in the greater Dallas region, today announced the signing of a definitive purchase agreement for Endonovo to acquire all of Western Star’s assets and business operations.
The Agreement is a unique opportunity to greatly enhance Western Star’s position as a regional leader in the specialty concrete construction sector with multiple expansion opportunities generally throughout the Southeast region of the US. Presently, Western Star business generates revenue with net annual operating profits of $6.3 million.
“The acquisition of the Western Star assets and the opportunities to expand into other geographic regions in Texas present significant opportunities to significantly increase company net cash flows. The current profitability and future demonstrable growth provides a great value for Endonovo and our shareholders”, CEO Alan Collier said in making the announcement. “This opportunity will be accretive for Endonovo’s valuation from year one. There will be significant potential for synergies estimated, under normal operating conditions and generate between $30 million and $60 million in revenues per year according to three-year lookback financial reporting,” he said.
Collier also pointed out: “The new Endonovo construction entity formed will aim to continue to generate a Compound Annual Growth Rate (CAGR) of an estimated 15% to 20% annually. Ongoing business will be structured and expanded through the already successful Western Star management team that, as an example produced 52% growth from 2020 to 2021. Western Star financial performance has sustained a 15% to 20% CAGR over a three-year financial lookback in the specialized concrete construction sector. Our vision for Western Star’s business expansion would have broad geographical reach with present…
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