AVEW HOLDINGS Inc., (OTC Pink: AVEW) (PINKSHEETS: AVEW) today announced that the company has signed a Letter of Intent to acquire Metroplex Commercial Pools (MCP), a Dallas, Texas based company that designs and builds residential and commercial pools in the Dallas Metro area. Metroplex Commercial Pools also designs and constructs outdoor living, arbors, outdoor kitchens, renovations, and new construction. Mr. Larry McDonald, owner and founder of MCP, has been in business since 1980 and has designed and built custom award winning pools in the Dallas metro area. MCP has enjoyed a steady average annual revenues of $2,800,000 over the last 5 years. MCP will operate as a subsidiary of AVEW Holdings Inc. AVEW Holdings will be establishing an office in North Dallas and increase sales and management support for the Dallas operations. MCP has recently signed an $800,000.00 contract for a custom pool and outdoor living project. This is indicative of the economic and area construction boom as well as MCP's expertise and Mr. McDonald's business reputation.
AVEW HOLDINGS INC will be actively searching for additional construction and pool service related companies in the Dallas, Texas metropolitan area.
AVEW Holdings was established in 2010 to service the greater Austin area. Over the years, the company has been recognized with multiple international and regional design awards. In addition to pool design and construction, they offer full landscaping and monthly pool service plans through Fantastic Pool Services. AVEW intends to expand outside of the regional market while also pursuing a vertical integration strategy through the acquisition of service and construction companies that compliment AVEW business.
Commenting on the transaction, CEO, Jose Chavez, stated, "We are excited about this transaction because it complements our current business model and AVEW will take advantage of a robust Dallas, Texas economic boom. MCP will contribute to AVEW's pool and outdoor construction platform and to bottom line profits."
About AVEW HOLDINGS, Inc.
AVEW Holdings is a full service pool, spa and landscape design and construction company. Fantastic Pool Service LLC is a maintenance and pool repair company doing business in central Texas. Austin Patio & Outdoor Living is a new and remodel construction company servicing central Texas.
SOURCE: AVEW Holdings, Inc.