SPO Networks, Inc. (SPOI) Enters $4.1 Million Dollar Agreement

To Acquire, a Profitable General Contracting, Demolition and Hauling Services Company Red Line Contractors LLC, Is A General Contracting, Demolition And Hauling Services Company, The Industry Leading Demolition Company In Its Field.
By: SPO Networks Inc.
 
LOWELL, Ark. - July 27, 2021 - PRLog -- SPO Networks, Inc. (SPOI), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary today announced that it has entered into an agreement to purchase Red Line Contractors LLC, a general contracting, demolition and hauling services company, the industry leading demolition company in its field.

Tom Smith founded Red Line Contractors LLC in October of 2002. Red Line Contractors is a general Contractor specializing in demolition, utility and asbestos remediation. Red Line had sales in excess of $4.1 million dollars in 2020 and expects an increase projected for 2021. The acquisition was for cash and stock.

Rick Hall, the Company's CFO said: 'This acquisition lines up with SPO's objective to invest in diverse industries and will fit nicely with our scrap metal business.'

'This acquisition will allow us to take advantage of Synergies between the companies and allow me to focus on growing SPO Networks Inc. cannabis operations' Tom Smith Founder of Red Line and CEO of SPO Networks Inc.

'Red Line Contractors will be a nice acquisition for the SPO business portfolio. Business has been solid with 29 active and pending jobs, currently. Being that our main business is residential and commercial demolition and removal, the scrap metal operation and its resources will be a great fit' said Tom Miller director of SPO Networks and General Manager for Red Line Contractors.

Red Line Contractors LLC

Red Line Contractors LLC has been serving the Northwest Arkansas Area in the Demolition field since 2002. With a prime territory consisting of Arkansas and its neighboring states, we guarantee our service in any area or condition. Our years of experience and efficiency in the demolition process separate us from the competition in every category. Customer satisfaction is our #1 priority, and we are committed to a safe and timely project. By owning and operating our own heavy equipment and hauling services, we do not rely on rental equipment or containers.

SPO Networks, Inc.

SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation.

https://www.spoinow.com/

FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Contact
Tom Smith, CEO
***@spoinow.com
End
Email:***@spoinow.com
Tags:SPOI
Industry:Construction
Location:Lowell - Arkansas - United States
Subject:Mergers
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