Globaltech Holdings, Inc. Locates Acquisition Candidate Structured to Generate Increased Recurring Revenue for GLBH
(firmenpresse) - THOMASVILLE, GA -- (Marketwired) -- 05/31/13 -- Globaltech Holdings, Inc. (OTC Pink: GLBH) is pleased to announce its first agency acquisition target for 2013.
The acquisition candidate is in the Property and Casualty sector. The target agency has been an ongoing business for a number of years and has a proven track record, financials and an established client base. Globaltech management will approach the agency this coming week and express interest in the possible evaluation and acquisition of the business. That process will involve a request for financials and an evaluation of current ownership/management. This possible acquisition agency fits with GLBH's target market, having recurring revenue with possible year over year increases. The target insurance agency is located in the South West sector of Georgia and has a strong emphasis on the rural population of this region.
Ormand Hunter, CEO of Globaltech Holdings, Inc., states, "We are looking forward to evaluating this acquisition target. All our potential acquisitions must have an established client base, strong residual revenue and opportunity for continued growth going forward."
Globaltech Holdings, Inc. (GLBH) is a progressive insurance brokerage firm that provides turnkey solutions to protect their client's financial interests. The Company's comprehensive approach includes personal and business insurance programs from personal auto, home, health, life, as well as commercial auto, general liability, workers compensation and group/life to meet all of their client's insurance needs.
Globaltech Holdings, Inc. remains focused on continued expansion through acquisitions of insurance agencies in the Southeast section of the United States.
For more information on Globaltech Holdings, Inc. please visit or contact Investor Relations at (973) 351-3868.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Contact:
Investor Relations
Taylor Capitol, Inc.
Stephen Taylor
(973) 351-3868
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Datum: 31.05.2013 - 14:00 Uhr
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News-ID 265248
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