Tustin, California – M Line Holdings Inc., a provider of products, assemblies, and services to the precision high-tech segment of both the aerospace and medical industries as well as a seller of high-end, pre-owned Japanese computer numerically controlled (CNC) equipment, has chosen three prospective acquisition targets. These acquisition targets are located in Southern California, the largest of which has revenues in excess of $35 million. The revenues for the three prospective acquisitions would exceed $60 million, with more than $12 million in EBITDA.
With a firm commitment for $30 million in funding, M Line's objective is to initially focus on California-based acquisitions in the aerospace industry that are synergistic, and where M Line could further enhance profitability as a supplier. These acquisitions are subject to full due diligence and legal documentation.
Bruce Barren, M line's CEO, stated, "Our focus is strictly defined where M Line, as a supplier, can increase its revenues while acquiring companies with strong revenues and earnings. The key to this financing program is that we will not have dilution, which will result in improved shareholder value."
Tony Anish, M Line's COO stated, "Our intent is to close one or more acquisition opportunities as soon as possible as we continue to try to improve our group's revenues and profitability. Stay focused – M Line is on the move."
Source: M Line Holdings Inc.