Smartcool Completes UK Acquisition
Poster: SySAdmin
Posted on March 2, 2011 at 8:07:01 AM
Smartcool Completes UK Acquisition
VANCOUVER, March 2, 2011/PRNewswire/ -- Smartcool Systems Inc. (http://smartcool.net/) (TSX-V: SSC) is very
pleased to announce that it has completed the acquisition of Smartcool
Systems UK Ltd., the most well-established and successful distributor over
the past twenty years of the Smartcool technology.
In addition to a broad customer base, Smartcool UK has built an
exceptionally strong technical, sales and management team during its many
years of operation, and has gained extensive experience with Smartcool's
technology across a variety of applications. In addition to a steady stream
of installations for small and medium sized businesses, the UK team has
successfully completed major roll-outs of Smartcool technology, including 675
Tesco markets, 104 Sainsbury's supermarkets, 20 large Colt telecommunications
facilities and several other Fortune 100 companies.
The combination of the UK team with Smartcool Systems Inc. will provide a
seamless support network for direct global sales as well as international
distributors. The experience of the UK team with respect to large-scale
roll-outs will accelerate the ability of Smartcool to execute on new and
existing business opportunities.
"The European market represented over 50% of our 2010 revenue, with
forecasted growth continuing for 2011," declares George Burnes, President and
CEO of Smartcool Systems Inc. "This is one of the most important strategic
steps we have undertaken, second only to the acquisition of the technology in
2006. It is expected that the impact of this acquisition will be demonstrated
by dramatically increased gross revenues and profits in 2011 and beyond."
Steven Martin, who assumes the position of Executive Vice President,
says; "The combined organization provides a solid platform from which we can
rapidly build revenue in the UK and Europe due to enhanced resources and
synergies. I am also very excited about the opportunity for the UK team to
play a major part in the development of revenue and profitability around the
world."
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
About Smartcool Systems Inc.
Smartcool Systems Inc. (TSX-V: SSC) manufactures and distributes the
Energy Saving Module (ESM)(TM) and the ECO3(TM), which make refrigeration
and air conditioning systems more efficient, resulting in proven cost
savings, reduced energy consumption, and a smaller carbon footprint. More
than 26,000 units have been installed worldwide for customers such as
supermarkets, food distributors, telecommunications companies, hospitals,
and hotels. http://www.smartcool.net
For further information:
George Burnes, +1(604)669-1388 ext. 102 or georgeb@smartcool.net
Jeff Walker, Howard Group, +1(403)221-0915 ext. 222
Robert Bailey, G2 Consultants, +1(604)742-9990 or info@g2consultants.com
Source: Smartcool Systems Inc.
George Burnes, +1(604)669-1388 ext. 102 or georgeb@smartcool.net ; Jeff Walker, Howard Group, +1(403)221-0915 ext. 222 ; Robert Bailey, G2 Consultants, +1(604)742-9990 or info@g2consultants.com
VANCOUVER, March 2, 2011/PRNewswire/ -- Smartcool Systems Inc. (http://smartcool.net/) (TSX-V: SSC) is very
pleased to announce that it has completed the acquisition of Smartcool
Systems UK Ltd., the most well-established and successful distributor over
the past twenty years of the Smartcool technology.
In addition to a broad customer base, Smartcool UK has built an
exceptionally strong technical, sales and management team during its many
years of operation, and has gained extensive experience with Smartcool's
technology across a variety of applications. In addition to a steady stream
of installations for small and medium sized businesses, the UK team has
successfully completed major roll-outs of Smartcool technology, including 675
Tesco markets, 104 Sainsbury's supermarkets, 20 large Colt telecommunications
facilities and several other Fortune 100 companies.
The combination of the UK team with Smartcool Systems Inc. will provide a
seamless support network for direct global sales as well as international
distributors. The experience of the UK team with respect to large-scale
roll-outs will accelerate the ability of Smartcool to execute on new and
existing business opportunities.
"The European market represented over 50% of our 2010 revenue, with
forecasted growth continuing for 2011," declares George Burnes, President and
CEO of Smartcool Systems Inc. "This is one of the most important strategic
steps we have undertaken, second only to the acquisition of the technology in
2006. It is expected that the impact of this acquisition will be demonstrated
by dramatically increased gross revenues and profits in 2011 and beyond."
Steven Martin, who assumes the position of Executive Vice President,
says; "The combined organization provides a solid platform from which we can
rapidly build revenue in the UK and Europe due to enhanced resources and
synergies. I am also very excited about the opportunity for the UK team to
play a major part in the development of revenue and profitability around the
world."
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
About Smartcool Systems Inc.
Smartcool Systems Inc. (TSX-V: SSC) manufactures and distributes the
Energy Saving Module (ESM)(TM) and the ECO3(TM), which make refrigeration
and air conditioning systems more efficient, resulting in proven cost
savings, reduced energy consumption, and a smaller carbon footprint. More
than 26,000 units have been installed worldwide for customers such as
supermarkets, food distributors, telecommunications companies, hospitals,
and hotels. http://www.smartcool.net
For further information:
George Burnes, +1(604)669-1388 ext. 102 or georgeb@smartcool.net
Jeff Walker, Howard Group, +1(403)221-0915 ext. 222
Robert Bailey, G2 Consultants, +1(604)742-9990 or info@g2consultants.com
Source: Smartcool Systems Inc.
George Burnes, +1(604)669-1388 ext. 102 or georgeb@smartcool.net ; Jeff Walker, Howard Group, +1(403)221-0915 ext. 222 ; Robert Bailey, G2 Consultants, +1(604)742-9990 or info@g2consultants.com