PUEBLO, CO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Sprout Tiny Homes (OTC PINK: STHI) has purchased substantially all of the assets of a Colorado Springs based tiny house and modular home dealer and designer, EcoCabins, LLC, a subsidiary of EcoVentures, LLC. This asset purchase includes a mix of stock plus stock incentives for continued business development over the next 5 years in the emerging small-living housing marketplace.
Inherent in the asset purchase is the acquisition of all of the intellectual property of EcoCabins including designs, copyrights, and marketing as well as a substantial pipeline of commercial business generated in Texas and Colorado. This sales pipeline represents close to 3,000 units in various stages of intent or contract worth an estimated $150 Million of Gross Revenue over a three to five year period. This includes the recently announced $26M contract with Texas Site Development, LLC and Tiny Dwelling Co. for up to 275 tiny homes to be purchased and installed at two tiny home communities in the Austin, Texas area.
EcoCabins and team was responsible for the inaugural 2015 National Tiny House Jamboree, which has become the annual industry-standard tradeshow and festival now known as the National Tiny House & Simple Living Jamboree (www.tinyhousejamboree.com). With this asset purchase, Sprout will increase its visibility in the Jamboree this August, showcasing several new models, and involvement in multiple major community developments centered around tiny-house designs nationwide. The Jamboree is currently slated to be held in Austin, Texas August 23rd – 27th, 2018.
Also inherent in the asset purchase, two of EcoCabins’ principals, namely Mr. Darin Zaruba and Mr. Andrew Stewart, will assist Sprout in an advisory capacity for the foreseeable future, and two will move to Sprout’s full-time executive team; namely Mr. Alan Kirchhoff as VP of Business Development, and Mr. Jefre Outlaw as VP of Sales. These team members represent close to 100 years of combined experience in sales, manufacturing, financing, and development experience, including specific expertise and leadership in the Tiny House Movement and Industry.
“We are so excited to have consummated this relationship, and to have two of the top experienced teams focused together in leading this industry in small-living construction and developments. The principals at EcoCabins are true pioneers, leaders and innovators that will help us and the industry move forward under the Sprout brand,” commented Rod Stambaugh, President of Sprout Tiny Homes.
“Together we are stronger, and we will continue to push the innovative limits of this Movement and Industry to new heights! We are ready to keep driving this disruptive housing solution forward as Nationwide leaders,” stated Mr. Zaruba.
Sprout has been actively involved in commercial tiny home design and manufacturing of its homes for use in tiny home communities, workforce housing and overnight hotel / resort environments. As housing becomes more and more unaffordable nationwide, Sprout continues to innovate with its home designs and has scaled up its production capability to meet the increasing demand for its homes.
Sprout is working with industry leading developers to identify, design and execute on creating modern and affordable housing communities. Sprout homes have gained a reputation for featuring chemical free interiors, engineered ERV systems to provide fresh air and healthy living environments and can be certified for net zero status making them not only comfortable but cost effective to operate and live in.
About Sprout Tiny Homes
Sprout Tiny Homes is a leading designer, developer and manufacturer of high-quality, net zero capable tiny homes with chemical free interiors. Sprout homes are built with modern building practices including structural insulated panels resulting in stronger, greener and straighter homes. Sprout focuses exclusively on building commercial grade tiny homes to satisfy the growing demand of affordable housing, live-work communities and overnight hotel / resort markets.
Using sustainable building materials where possible and pushing the boundaries of design and energy efficiency are key attributes of Sprout homes. We manufacture tiny homes on wheels up to 400 sq. ft. and homes on foundations up to 1200 sq. ft. of living space. Sprout manufactures its homes in a 45,000 sq. ft. production facility is located in Pueblo, Colorado. For more information on the company, visit http://sprouttinyhomes.com
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Sprout Tiny Homes, Inc. to differ materially from those implied or expressed by such forward-looking statements. This press release speaks as of the date first set forth above, and Sprout Tiny Homes, Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in our industry.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9af7fa75-9a55-4e91-bed7-43fde98502a8
CONTACT:
Rod Stambaugh
Sprout Tiny Homes, Inc.
Phone: 719.247.6195
Info@sprouttinyhomes.com or
http://sprouttinyhomes.com