James Maritime Holdings, Inc Announces the Acquisition of United Security Specialists, Inc.

Rhea-AI Summary

James Maritime Holdings, Inc. (JMTM) announced the acquisition of United Security Specialists, Inc. (USS), a security service provider based in Santa Clara, CA, with 2021 revenues exceeding $8 million. The acquisition aims to enhance JMTM's market presence and service offerings in high-demand security sectors. USS offers various services, including on-site protection and mobile patrols. The collaboration will enable JMTM to leverage USS's technology and capitalize on strategic partnerships for growth in federal and state security markets.

Positive

• Acquisition of USS expands JMTM's footprint in the growing security services market.
• USS's established revenue of over $8 million in 2021 indicates a solid business foundation.
• Access to USS's management team and technology improves operational capabilities.

Negative

• Dependence on obtaining adequate financing for operational maintenance and acquisition strategy.
• Risks associated with integrating USS's operations into JMTM.

SALT LAKE CITY, UT / ACCESSWIRE / September 23, 2022 / James Maritime Holdings, Inc, (OTC PINK:JMTM) announced today that is has closed the acquisition of United Security Specialists, Inc. ("USS"), a security company which provides on-site protection, Mobile Patrol and Event Security in Santa Clara, CA.

USS is an established security services provider with more than 10 years' experience in the security space with revenues exceeding $8 million in 2021. In addition to providing reliable security guard services for property management companies, financial institutions and municipalities, USS provides its clients with property security risk assessments, mobile route patrols, special events and disaster security support.

Kyle Madej, CEO of United Security Specialists, Inc., states, "The partnership between United Security Specialists and JMTM affords us the ability to expand to the next level by working together to acquire strategic industry partners, increase our access to capital and to adopt the use of effective technologies such as drones and remote surveillance technology. These relationships and technologies will enable United Security Services to better serve our existing California client base and expand into Federal, State and Municipal sector security markets, and assist us in our goal of becoming the leader in security services and remote monitoring."

USS has an effective, quality management team that will be a strategic partner for James Maritime which broadens our footprint in the protection and security marketplace at a time when these services are in high demand and are more required.

For more information contact: Kip Eardley, president (702) 237-6834.

Forward Looking Statements

Forward Looking Statement: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company's periodic reports.

SOURCE: James Maritime Holdings, Inc.

View source version on accesswire.com:
https://www.accesswire.com/717154/James-Maritime-Holdings-Inc-Announces-the-Acquisition-of-United-Security-Specialists-Inc

FAQ

What is the acquisition value of James Maritime Holdings, Inc. and United Security Specialists, Inc.?

The press release does not specify an acquisition value.

How will the acquisition of USS impact James Maritime Holdings, Inc.?

The acquisition aims to enhance market presence and service offerings in high-demand sectors.

What services does United Security Specialists, Inc. provide?

USS provides on-site protection, mobile patrols, event security, and risk assessments.

What are the strategic benefits of the acquisition for JMTM?

The acquisition allows for expansion into federal, state, and municipal security markets.

What are the risks mentioned in the press release regarding the acquisition?

Risks include the need for sufficient financing and uncertainties related to smaller reporting companies.