Small Business Development Group (OTC: SBDG) Signs Memorandum of Understanding: First Step in Development of SBDG Real Estate Vertical
LADY LAKE, Florida, June 09, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Small Business Development Group, Inc. (OTC:SBDG) has signed a Memorandum of Understanding (MOU) for the acquisition of a real estate appraisal company. Closing of acquisitions is subject to satisfactory completion of due diligence. As a publicly traded holding company on OTC Markets, SBDG’s plan is to build its portfolio with industry centric verticals. This is the first step in the development of a vertical of real estate holdings for SBDG.
This acquisition target is a real estate appraisal company based in California, is well-networked, 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 into Nevada, Arizona, Idaho, Texas, Florida and North Carolina.
“The ownership of this appraisal company has built a nice solid business, and has fostered fantastic relationships in the industry,” said SBDG Chief Operating Officer Brian Jue. “We are confident that with an infusion of capital, technology, experience and network, that we will together build a company and brand with national presence. It is the first step of a greater plan centered around real estate in the United States.”
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.
The Company is based in Florida and has offices in California, Illinois, Maine, New Jersey, and North Carolina.
For more information, go to www.SBDGHoldings.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.
850 Teague Trail, #580, Lady Lake, FL 32159 US
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