AVEW HOLDINGS Announces Acquisition
AUSTIN, TX--(Marketwired - Jun 11, 2014) - AVEW HOLDINGS Inc. (OTC Pink: AVEW) (PINKSHEETS: AVEW) today announced that the company has acquired MD Construction Company, a Texas-based company that operates as an outdoor living contractor and indoor remodel business headquartered in Austin, Texas. MD Construction is a two year old business with an excellent reputation in the outdoor living and remodel industry. MD Construction has enjoyed a 150% overall growth in revenues over the past year. MD Construction will operate as AUSTIN PATIO & OUTDOOR LIVING -- a subsidiary of AVEW Holdings Inc.
AVEW Holdings was established in 2010 to service the greater Austin area. Over the years, the company has been recognized with multiple international and regional design awards. In addition to pool design and construction, they offer full landscaping and monthly pool service plans through Fantastic Pool Services. AVEW intends to expand outside of the regional market while also pursuing a vertical integration strategy through the acquisition of service and construction companies that compliment AVEW business, just like MD Construction. Mr. Mike Moore, founder of MD Construction is a 20 year veteran in the construction industry.
Commenting on the transaction, President, James T. Ling, explained, "We are excited about this transaction because it compliments our current business model and will contribute to AVEW's outdoor construction platform and to bottom line profits. Austin Patio and Outdoor Living will contribute to AVEW with its construction business and also bring in additional revenues from its operations."
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