OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Agrees and Signs for the Acquisition of Texas-based Precision Powered Products Incorporated
ILUS International (OTC: ILUS) has signed Heads of Terms for its acquisition of Precision Powered Products Inc, a fire pump system manufacturer generating annual revenues of approximately $8 million. Precision has a well-established clientele, including major oil and gas companies like BP and Exxon. This acquisition aims to make Precision the US manufacturing hub for ILUS's firefighting pumps and equipment, enhancing distribution capabilities through ILUS's existing network. The move aligns with ILUS's strategy to expand its emergency services technology portfolio.
- Acquisition of Precision Powered Products Inc could enhance manufacturing capabilities for firefighting equipment.
- Precision has a strong existing revenue stream of approximately $8 million.
- Access to an established customer base, including major oil and gas companies.
- Plans to create a manufacturing hub for ILUS's firefighting technologies in the US.
- None.
NEW YORK, NY, Oct. 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company has been in the process of completing multiple acquisitions in 2021, with the most recent being Bull Head Products in Tennessee. ILUS has now agreed and signed the Heads of Terms for its third US acquisition, Precision Powered Products Inc, which is an established specialist fire pump system manufacturing company, primarily serving the Oil and Gas sector, generating annual revenues in the region of
Precision Powered Products Inc. was founded in 1984 and operates out of its 16,000 square foot facility in Houston, Texas. The company’s impressive Oil and Gas customer base includes the likes of BP, Shell, Exxon, and Anadarko. In addition to its 36 years of operations, the profitable business employs 15 personnel with extensive industry experience; it holds multiple engineering, welding, fabrication, installation, and maintenance certifications, and owns a considerable list of machinery and equipment. In addition to growing the existing business and leveraging the business’s rich database of customers and contacts, ILUS plans to make Precision Powered Products the US manufacturing hub for all of FireBug’s existing and future firefighting pumps and pump related equipment. The FireBug equipment manufactured by Precision Powered Products, which will include a new range of wildland firefighting equipment, will be distributed countrywide by ILUS’ Georgian distributor, which is already a leading distributor of firefighting equipment in the US. The pumps and equipment will also be distributed by future firefighting equipment distributors which ILUS plans to acquire. ILUS’ Bull Head Products will also order all of its firefighting vehicle pumps from Precision Powered Products, with ILUS expecting that a very significant portion of its firefighting equipment sales in the US will form part of complete firefighting vehicle solutions. Therefore, Bull Head Products and ILUS’ US distributor will both sell ILUS’ firefighting vehicles and Precision Powered Products will manufacture the pumps and some of the equipment to be installed on the vehicles. ILUS’ distributor will then also be able to supply any additional firefighting equipment required for the complete vehicles.
Precision Powered Products currently manufactures custom designed and engineered firewater pump systems, engineered skid units, and mounted modular equipment. The company also provides OEM manufacturing, assembly, and servicing for major pump manufacturers. It services and repairs pump systems both onsite at oil wells and offshore rigs, and at its Houston facility. ILUS will be moving some key members of its existing team of engineers currently located in Dubai to Houston where they will work with Precision Powered Product’s team of welders, fabricators, and assembly technicians to manufacture FireBug’s existing pumps and design additional disruptive technology. Precision Powered Products has additional manufacturing space available as well as a large outdoor product testing area which ILUS can utilize for FireBug’s existing products.
ILUS has multiple short-term objectives for the increased growth of Precision Powered Products. These include investing in the maintenance division of the company, which is a major source of additional revenue, employing additional sales resources to target global business which includes existing ILUS customers and contacts in the Middle East and Europe, improving the company’s outdated website and restructuring various operational processes to obtain increased efficiency. ILUS Global Sales Director, Jason Bolze, is already in Houston with the current management of Precision Powered Products to plan and action these short-term objectives.
ILUS has stated in previous press releases that it has a clear triple pronged acquisition strategy in the US, one of which is to acquire manufacturing capability for its existing products, with the benefit of absorbing existing revenue streams, intellectual property, and assets during the acquisition process. Precision Powered Products has been successfully designing and manufacturing complex engineered products for almost 40 years, developing, and maintaining business primarily through recommendations, word of mouth, successful bids, and renewals. Whilst ILUS will begin manufacturing its own firefighting pumps and pump related equipment at Precision Powered Products within 3 months, the company will also maintain its current focus on quality and excellent customer service whilst supplementing it with an aggressive sales strategy and a vastly improved global digital presence.
Now that ILUS is executing on the acquisition of its manufacturing and distribution capability for its current emergency services technology in the US, it is already working to complete the acquisition of fixed firefighting system manufacturing, distribution, and installation capability in the country. This will provide the US route to market for ILUS’ revolutionary fixed system technology that combats battery fires and kitchen fires. The company is also progressing with the due diligence on a British group of companies which manufactures and distributes innovative technology which is strategically aligned with ILUS’ roadmap. Simultaneously, ILUS is also working on the completion of multiple partnerships and acquisitions for ground-breaking emergency response software and IoT solutions.
ILUS Managing Director, John-Paul Backwell, commented: “The revenue potential for Precision Powered Products, with our involvement, is astonishing. This will become the manufacturing home for our US firefighting pumps and equipment, which will work in conjunction with our existing acquisitions, and they will all complement each other. We have also eagerly sought the opportunity to break into the Oil and Gas market in a more direct and targeted manner and here we are, having obtained expert manufacturing capability and experience, a strong existing revenue stream and the opportunity to work with some of the world’s largest multinationals, ensuring that they not only see the benefits of what Precision Powered Products can do for them, but what all of ILUS’ technology and partnerships can deliver for them globally. The pieces of the puzzle are slotting perfectly in place and we are delivering on our strategy but more importantly, what we are creating is a powerful growth machine that will deliver the best technology to where it is needed most. We have accomplished a great deal in recent months. I am so proud of our ILUS team for their efforts, and we are very grateful to our Shareholders for their support, but we are now using our momentum to push even harder, as we know we are still only in our foundation phase and not yet executing on our real growth potential.”
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