Tiderock Companies Completes Strategic Acquisition to Form Global Materials Powerhouse

Rhea-AI Summary

Tiderock Companies (OTC PINK:TDRK) has acquired MTAG Global Inc., forming a major international materials company. MTAG Global, a robust player in the European market, operates in sectors such as rail, aerospace, marine, automotive, construction, and defense, with annual revenues over $25 million. Despite postponing the acquisition of MTAG Composites, Tiderock secured MTAG Global's exclusive distribution rights with a $250,000 fee. For fiscal 2024, MTAG forecasts $12.5 million in gross revenue. Tiderock issued 800,000 Series C Preferred Shares and MTAG Global will appoint a board member. Tiderock's operations now include manufacturing, led by MTAG, and real estate through Sora Ventures, which is developing residential projects in the Southeast US.

Positive

• Tiderock Companies acquired MTAG Global Inc., enhancing its international presence.
• MTAG Global has annual revenues exceeding $25 million.
• MTAG Global forecasts $12.5 million gross revenue for fiscal 2024.
• The composites market, where MTAG operates, is projected to grow from USD $105.75 billion in 2022 to USD $191.36 billion by 2032 at a CAGR of 6.1%.
• Tiderock's real estate division is developing multiple residential projects in the Southeast US amid stable interest rates and sustained housing demand.

Negative

• The acquisition of MTAG Composites, has been indefinitely postponed.
• Issuance of 800,000 Series C Preferred Shares could lead to shareholder dilution.
• MTAG Global must pay a $250,000 one-time fee for exclusive distribution rights.

BOSTON, MA / ACCESSWIRE / May 23, 2024 / Tiderock Companies, Inc. (OTC PINK:TDRK) is thrilled to announce the acquisition of MTAG Global Inc., establishing a formidable international materials company. MTAG Global is the exclusive distributor for MTAG Composites and boasts a robust pipeline with annual revenues exceeding $25 million.

MTAG Global Inc. ("MTAG") holds a strong position in the European market, delivering a diverse range of services across multiple sectors, including:

• Rail
• Aerospace
• Marine
• Automotive
• Construction
• Defense

MTAG is strategically poised to capitalize on the burgeoning composites market, which was valued at USD $105.75 billion in 2022 and is projected to reach USD $191.36 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032. For the fiscal year 2024, MTAG forecasts gross revenue of USD $12.5 million.

The previously announced transaction to acquire MTAG Composites, LTD has been indefinitely postponed. This new arrangement allows Tiderock, through its wholly owned subsidiary MTAG Global, to foster strategic relationships with MTAG Composites while also pursuing additional growth opportunities.

As part of this acquisition, Tiderock has issued 800,000 Series C Preferred Shares to the owners of MTAG Global, Inc. MTAG Global, Inc. will also pay MTAG Composites a one-time fee of $250,000 to secure the rights to become its exclusive global distributor. Additionally, MTAG Global has the authority to appoint one board member to Tiderock's Board of Directors.

Tiderock Companies will now operate under two primary divisions: manufacturing and real estate. MTAG will spearhead the manufacturing efforts, expanding its UK footprint to the United States and additional sites within the UK. In parallel, the Real Estate division, under Sora Ventures, is actively developing multiple residential projects in the Southeast United States, amidst stabilized interest rates and sustained housing demand in targeted US markets.

About Tiderock Companies, Inc.:
Tiderock Companies is a diversified investment and advisory services company, specializing in real estate, land development, infrastructure, and private equity. With over 20 years of experience, the Company excels in land development, mixed-use real estate development, project management, and public-private partnerships. Headquartered in Boston, MA, Tiderock Companies, Inc. (OTC Pink: TDRK) can be contacted at www.tiderockcompanies.com or by phone at (800) 791-8433.

About MTAG Global Inc.:
MTAG Global Inc. is the exclusive global distributor for MTAG Composites, LTD, specializing in the manufacture of high-quality phenolic, epoxy, and polyester glass fiber and carbon fiber reinforced plastic moldings. Their diverse product mix serves customers in the aerospace, automotive, marine, rail, and construction industries.

Forward-Looking Statements:
This press release includes forward-looking statements regarding beliefs, plans, expectations, or intentions about the future. Actual results could differ from those projected due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update them or the reasons actual results could differ. We believe that the beliefs, plans, expectations, and intentions expressed in this press release are reasonable, but there can be no assurance they will prove accurate.

Contact Information:
Tiderock Companies, Inc.
53 State Street, Suite 500
Boston, MA 02109
Thomas B. Fore, CEO
Email: info@tiderockcompanies.com
Phone: (800) 791-8433

SOURCE: Tiderock Companies, Inc.

View the original press release on accesswire.com

FAQ

What company did Tiderock Companies acquire?

Tiderock Companies acquired MTAG Global Inc.

What is the stock symbol for Tiderock Companies?

The stock symbol for Tiderock Companies is TDRK.

What are the projected revenues for MTAG Global in 2024?

MTAG Global forecasts gross revenue of USD $12.5 million for fiscal 2024.

Why was the acquisition of MTAG Composites postponed?

The acquisition of MTAG Composites was postponed to focus on strategic relationships and growth opportunities through MTAG Global.

What sectors does MTAG Global operate in?

MTAG Global operates in rail, aerospace, marine, automotive, construction, and defense sectors.

What is the growth projection for the composites market?

The composites market is projected to grow from USD $105.75 billion in 2022 to USD $191.36 billion by 2032, at a CAGR of 6.1%.

How will the acquisition affect Tiderock's business divisions?

Tiderock will now operate under two primary divisions: manufacturing, led by MTAG, and real estate through Sora Ventures.

What impact will the issuance of Series C Preferred Shares have?

The issuance of 800,000 Series C Preferred Shares could lead to shareholder dilution.