Small Business Development Group (SBDG) Signs Definitive Agreement to Acquire Appraisal 3000

Rhea-AI Summary

Small Business Development Group, Inc. (OTC:SBDG) is acquiring Appraisal 3000, Inc., a California real estate appraisal firm, aiming for national expansion. This acquisition marks SBDG's first step in establishing a real estate holdings vertical. Appraisal 3000 has shown steady growth, reporting over $600,000 in revenue in 2020 and on track for higher figures in 2021. The acquisition intends to leverage technology and enhance operations across multiple states, including Nevada, Arizona, and Texas, ultimately striving for a national presence in the real estate sector.

Positive

• Acquisition of Appraisal 3000 for national expansion.
• Appraisal 3000's revenue exceeded $600,000 in 2020.
• Planned operations expansion into Nevada, Arizona, Texas, Florida, and North Carolina.

Negative

• None.

CARY, NC, Aug. 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Small Business Development Group, Inc. (OTC:SBDG) has signed a Definitive Agreement for the acquisition of Appraisal 3000, Inc., a California based real estate appraisal company.  The goal of the acquisition is to expand Appraisal 3000’s presence nationally.  As a publicly traded holding company, SBDG’s plan is to build its portfolio with industry centric verticals.  This is the first step in the development of a vertical in real estate holdings for SBDG.  

“I'm so excited and enthusiastic about joining forces with SBDG,” said Robert Lilley, Founder and CEO of Appraisal 3000, Inc. “With the SBDG team backing Appraisal 3000, my dream of expansion and growth of our company nationwide is now right in front of us.  We are ready to put the work in and venture into new markets, and we have already begun reaching out to those who can assist us in the journey ” 

Appraisal 3000 is based in Southern California and currently performs real estate appraisals throughout California. Management has long standing relationships in the real estate industry, and has been growing steadily since inception, with 2020 revenue in excess of $600,000 and 2021 on a run rate to exceed the previous year.  With an infusion of capital, technology, and human resources, SBDG plans to support existing management and expand operations throughout California into Nevada, Arizona, Idaho, Texas, Florida and North Carolina.  

“Robert Lilley and his team have built a solid business that is positioned to succeed in any real estate market and cycle,” said SBDG Chief Operating Officer Brian Jue.  “Our immediate plan is to assist in areas that will generate immediate growth.  That includes utilizing technology with a new site, image, and analytics-based social media marketing, as well as human capital with sales and support staff.  Add to that exposure to our network, and the pursuit of additional acquisitions, we are confident that together we will build a company and brand with national presence to lead our efforts in the real estate industry.”

About SBDG:

Small Business Development Group, Inc. (OTC: SBDG) is a holding company publicly traded on OTC Markets. SBDG has an active mandate to identify and acquire operating companies with a preference for those in the small to medium sized enterprise arena (SMBs and SMEs) based in North America, specifically those demonstrating modest but predictable growth and profitability over time. Ideal candidates for acquisition have an enterprise value between $2 million and $50 million with positive cash flows between $500 thousand and $5 million. SBDG's intent for all acquisitions is to affirm or establish sound business fundamentals and to drive revenue and profitability growth. The goal of SBDG is to develop and align portfolio companies into high performance industry verticals and deliver additional value for its stakeholders. 

For more information, go to www.SBDGStock.com

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business.

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www.SBDGStock.com

FAQ

What acquisition has SBDG announced recently?

SBDG has announced the acquisition of Appraisal 3000, a real estate appraisal company.

What is the purpose of SBDG’s acquisition of Appraisal 3000?

The acquisition aims to expand Appraisal 3000's presence nationally in the real estate market.

What were Appraisal 3000's revenues in 2020?

Appraisal 3000 reported revenues exceeding $600,000 in 2020.

Which states will SBDG expand Appraisal 3000's operations to?

SBDG plans to expand operations into Nevada, Arizona, Texas, Florida, and North Carolina.

What is SBDG's strategy for future growth?

SBDG aims to leverage technology, enhance sales and marketing, and pursue additional acquisitions for growth.