Sponsored by Businesswire
Applied UV, Inc. (NASDAQ:AUVI) (“Practical UV” or the “Visitor”), a proven disinfection technology solutions leader, announces 2 acquisition agreements that would effectively double the size of the company, positioning it for pregnant future acquirement growth.
The strategic acquisitions of privately-held PURO Lighting, LLC (“PURO”) and LED Supply Co. (“LED Supply”) would enable Practical UV to expand distribution and sales capabilities of a broad range of highly complementary, proprietary and patented, FDA-cleared disinfection devices, ultimately positioning the visitor for deeper expansion into current markets and enhanced revenue growth afterward closing. In addition, the transaction would let Applied UV to access and build upon PURO’s existing strong commercial relationship with Acuity Brands, Inc. (NYSE:AYI) (“Vigil”).
“Along with our proprietary FDA cleared disinfection technology, the PURO and LED Supply Co acquisitions would help us further our vision of being the leading player in the disinfection technology space,” said Max Munn, Applied UV Founder and President. “The acquisitions would support the expansion of product lines with an end-to-finish solution for pathogen destruction, enhancing our presence in primal vertical markets, leading to rapid acquirement enhancement,” said Max Munn, Practical UV Founder and President. “By leveraging PURO’s existing relationships, we would also have access to a portion of Acuity’s UV production portfolio.”
Today’south announcement continues Applied UV growth strategy, enabling the company to serve central domestic and international vertical markets such as healthcare, agriculture, cannabis, alcohol (wine), teaching and hospitality. The acquisitions of PURO and LED Supply, together with the 2021 acquisitions of Airocide®, KES Scientific discipline & Engineering, and Scientific Air Management, creates ane of the broadest portfolios of patented air disinfection and purification technologies capable of addressing every major commercial marketplace, including hospitals and assisted living facilities, schools, government and military buildings, prison systems, hotels, commercial buildings equally well as nutrient transportation and storage that extends the shelf life of agricultural products, including cannabis.
“With an estimated additional $18 million in revenue for the 12 months ending September xxx, 2022, the PURO and LED Supply acquisitions would finer double the size of our visitor,” said Munn. “Nosotros anticipate that the combined visitor is likely to generate approximately $45-$50 one thousand thousand of revenues in FY 2023, with a strong remainder sheet to support the acquirement growth. Further, we anticipate pregnant cost savings through synergies that will reduce our overhead expenses and therefore ameliorate our margins.”
Applied UV entered into definitive agreements effective Dec 19, 2022 to merge both PURO Lighting and LED Supply with merger subsidiaries. The combined transaction value of these acquisitions would be approximately $20 million. The approximate $20 1000000 in consideration for these transactions is a combination of cash and restricted common and restricted preferred shares. The portion of the purchase price that consists of the restricted mutual shares was based on a price per share of $2.00, which is significantly above current marketplace prices. The closing of the acquisitions will be subject to certain standard closing conditions including the approval of the Applied UV board of directors.
About Applied UV
Applied UV, Inc. (“AUVI”) develops and acquires proprietary infection prevention and control technology in the healthcare, commercial & public venues, food transportation/storage, cannabis and education vertical markets. The Company has two wholly owned subsidiaries – SteriLumen, Inc. (“SteriLumen”) and Munn Works, LLC (“Munn Works”). Sterilumen owns and markets a portfolio of products with advanced pathogen elimination engineering science, branded Airocide® past Sterilumen, Scientific Air™ past Sterilumen, Airoclean™ 420 by Sterilumen, and Lumicide™ by Sterilumen.
Leading organizations globally rely on AUVI’due south air purification systems to completely eliminate airborne and surface infections, mold, leaner, allergens and other contaminants. Our customers include Kaiser Permanente, NY Health+Hospitals, Baptist Health South Florida, Boston Blood-red Sox’s Fenway Park, JetBlue Park, France’due south Palace of Versailles, Invited Clubs, Whole Foods, Del Monte Foods, U.S. Section of Veterans Affairs, and more than.
NASA used Airocide’southward proprietary Photocatalytic Oxidation applied science to sanitize the International Space Station.
Scientifically proven to reduce Healthcare Acquired Infections (HAI), Scientific Air™ offers a proprietary 3-phase engineering science integrating HEPA filters, ultraviolet germicidal light chamber and active carbon substrate.
About LED Supply Co.
LED Supply Co. was founded in 2009 equally a distributor and manufacturer of land-of-the-art LED fixtures. Identified as one of Forbes Fastest Growing Companies, today LED Supply Co. is a national lighting, controls, security and technology distributor managing some of the largest national accounts and lighting design projects throughout the U.s. market place. Since beginning operations, LED Supply Co has completed over 2,500 LED lighting and controls projects throughout Northward America and continues to grow and expand operations through its national sales forcefulness and east-commerce site. For more data, visit world wide web.ledsupplyco.com.
Most PURO UV Disinfection Lighting
Launched in 2019 in Lakewood, Colorado, PURO® Lighting promotes health and safety by bringing proven and powerful UV light disinfection devices to all indoor spaces where people assemble including hospitals, schools and universities, medical and manufacturing facilities, transportation, part buildings, and much more, all without the use of chemicals. From HVAC systems to in room and upper air disinfection, PURO Lighting products offering a broad variety of UV technologies to provide continuous disinfection of air in occupied spaces and can chop-chop disinfect whatever indoor area inactivating up to 99.9% of viruses, bacteria, fungi and more than including today’south SARS-CoV-2 virus. Our proprietary software, PURONet UV Disinfection Control System, allows for real time data collection and reporting to assist create a safer environment in all spaces. For more than information, visit www.purolighting.com.
The information contained herein may contain “frontward‐looking statements.” Forward‐looking statements reflect the current view near futurity events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “programme,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, just are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resource outlook. Forward‐looking statements are based on the Company’south electric current expectations and assumptions regarding its business organisation, the economy and other hereafter conditions. Because frontward–looking statements relate to the futurity, they are bailiwick to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the frontwards‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. Nosotros circumspection yous therefore against relying on any of these frontward‐looking statements. Factors or events that could cause the Visitor’south actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Visitor cannot guarantee hereafter results, levels of action, performance, or achievements. Except every bit required by applicable law, including the securities laws of the Us, the Company does not intend to update whatsoever of the forward‐looking statements to accommodate these statements to actual results.
View source version on businesswire.com: