-- Acquisition to Add Over
$5 Million in Revenue and Strengthen Beacon’s Growing European Presence
with Dedicated ITS Design and Installation Firm Strategically Located in
Central Europe --
Press Release Source:
Beacon Enterprise Solutions Group, Inc. On Wednesday February 3, 2010, 4:01 pm
EST
LOUISVILLE, Ky.--(BUSINESS
WIRE)--Beacon Enterprise Solutions Group, Inc. (OTCBB: BEAC
- News)
(www.askbeacon.com),
an emerging global leader in the design, implementation and management of high
performance Information Technology Systems (“ITS”) infrastructure
solutions, today announces that it has reached an agreement to acquire NetConnect
BVBA. The agreement and the purchase price, which will be paid in a combination
of cash and installment payments over time, are subject to completion of due
diligence and documentation.
Based in Pulderbos, Belgium,
NetConnect BVBA (“NetConnect”) is an ITS infrastructure design and
installation firm whose core business consists of the deployment of state of
the art IT infrastructure projects, network cabling, data rooms, and voice
installations throughout Central Europe. NetConnect services a wide variety of
ITS infrastructure projects, from sophisticated fiber optic cabling, to large
government projects, to clean room installations, and a diverse clientele that
runs the gamut from small and medium size businesses to providing outsourced IT
services to some of the world’s largest global enterprise clients.
“We are pleased to
announce our pending acquisition of Belgium based NetConnect and look forward
to integrating their systems knowledge and expertise,” said Bruce
Widener, CEO of Beacon Solutions. “NetConnect has demonstrated
significant year-over-year revenue growth during the past 3 years, along with
consistent, positive net income and has zero debt. We believe
NetConnect’s capabilities serve as an ideal complement to Beacon’s ITS
managed services and the company’s strategic location in central Europe
will provide a central hub of operations as we continue to penetrate the
European market and extend our global reach. We expect the acquisition to be
accretive to earnings in FY 2010.”
Founded in 1998,
NetConnect’s management team and key personnel each have over 15 years of
experience in Europe’s ITS infrastructure industry. NetConnect has close
ties with several of the largest multinational corporations in central Europe
and has completed projects for the Belgian Government, as well as leading
global logistics providers in the world. NetConnect has shown steady growth of
9% over the past three years, with estimated revenue of approximately USD $5.4
million in 2009.
NetConnect maintains
numerous industry certifications and credentials, including the Safety, Health
& Environment (SHE) management system certification through AIB-Vinçotte
(VCA), an independent foundation that assists organizations with safeguarding
life, property and the environment. NetConnect is also a certified designer and
installer for R&M products, which is one of the leading suppliers of
passive cabling solutions for high quality communication networks around the
world.
Kurt Cavens, Managing
Director and co-founder of NetConnect, commented, “As one of the only
firms dedicated exclusively to the design and installation of ITS
infrastructure in central Europe, we believe this acquisition represents an
ideal combination and we look forward to becoming part of the Beacon Solutions
global team.”
About Beacon Enterprise
Solutions Group, Inc.
Beacon Enterprise Solutions
Group is an emerging global leader in the design, implementation and management
of high performance Information Technology Systems (“ITS”)
infrastructure solutions. Beacon offers fully integrated, turnkey IT
infrastructure solutions capable of fully servicing the largest companies in
the world as they increasingly outsource to reduce costs while optimizing
critical IT design and infrastructure management. Through an integrated team
approach, Beacon offers a broad range of products and services including IT
infrastructure design, implementation and management, application development
and voice/data/security system integration, installation and maintenance.
Beacon’s client roster includes state and local agencies, educational
institutions, and over 4,000 companies ranging in size from mid-sized companies
to the Fortune 500. Beacon is headquartered in Louisville, Ky., with regional
headquarters in Dublin, Ireland, and Zurich, Switzerland, and personnel located
throughout the United States and Europe.
For comprehensive investor
relations material, including fact sheets, research reports, interviews and
video, please follow the appropriate link: Investor
Relations Portal, Investor
Fact Sheet, Research
Report and CEO
Overview Video
For additional information,
please visit Beacon’s corporate website: www.askbeacon.com
This press release may
contain “forward looking statements.” Expressions of future goals
and similar expressions reflecting something other than historical fact are
intended to identify forward-looking statements, but are not the exclusive
means of identifying such statements.
These forward-looking statements may include, without limitation, statements
about our market opportunity, strategies, competition, expected activities and
expenditures as we pursue our business plan. Although we believe that
the expectations reflected in any forward looking statements are reasonable, we
cannot predict the effect that market conditions, customer acceptance of
products, regulatory issues, competitive factors, or other business
circumstances and factors described in our filings with the Securities and
Exchange Commission may have on our results. The company undertakes no
obligation to revise or update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of this press
release.
Contact:
Beacon
Enterprise Solutions Group, Inc.
Bruce Widener, CEO
502-657-3507
investors@askbeacon.com
or
Porter, LeVay & Rose, Inc.
Marlon Nurse, V.P. – Investor Relations
212-564-4700
or
Trilogy Capital Partners
Darren Minton, Executive Vice President
800-592-6067
