February 2, 2015 Invisa Announces Completion of Key Acquisitions
Invisa Announces Completion of Key Acquisitions
We are pleased to announce that we have completed the acquisition of Uniroyal Engineered Products, LLC (“Uniroyal”) and Wardle Storeys (Group) Limited (“Wardle Storeys”). Invisa completed corresponding 8-K and 8-K/A filings on January 20, 2015 and will be filing the corresponding Annual Report on form 10-K in the near future. Access to these filings can be found on the U.S. Securities and Exchange Commission website and on the home page of the Invisa website, www.invisa.com, under SEC Filings.
The acquisitions enable Invisa to diversify its business into the global vinyl coated fabrics market through Uniroyal’s well established business and brand names and Wardle Storeys’ strong presence in the European markets. The combination of Uniroyal’s growing presence in the U.S. automotive market with Wardle Storeys’ well-established and growing position in the European automotive market provides the Company with an international footprint to compete in the growing global automotive market and expand its non-automotive businesses to new foreign markets.
Uniroyal and Wardle Storeys each are successors to businesses with many years of experience in manufacturing, marketing and innovating coated fabrics, which are an alternative to leather, cloth and synthetic fabrics used in the automotive, industrial equipment, upholstery, hospitality, healthcare and recreation industries. Post-acquisition, the Company’s consolidated pro-forma revenue for the fiscal year ended December 29, 2013 was approximately $94.8 million and $49.8 million for the six months ended June 29, 2014. The Company now has approximately 410 employees world-wide and leases approximately 480,000 sq. ft. of manufacturing space in Stoughton, Wisconsin and Earby, England.
We believe that these acquisitions position Invisa as a leader in the coated fabrics market with strong brand recognition and a history of product innovation. With established revenue in this growth industry, significant cash flow, and proven management, we are excited about Invisa’s future.
Thank you for your support and for being one of our valued shareholders.
Edmund C. King
Chief Executive Officer
For more information on Invisa and these acquisitions, please contact Elizabeth Henson at 941-870-3950 or at firstname.lastname@example.org.
Forward Looking Statements: Statements in this letter to shareholders that are not strictly historical in nature constitute “forward looking statements.” Such statements include, but are not limited to, statements about Invisa, Uniroyal, Wardle Storeys and/or the combined entity, events occurring after the date hereof and any other statements relating to the post-acquisition company or activities or opportunities pre or post acquisition. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, expectations and intentions and other statements identified by words such as “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans” or any similar expression. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results of Invisa, Uniroyal, Wardle Storeys and/or the combined entity to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to the benefits, risks, uncertainties, difficulties or delays related to the acquisitions and activities or conduct of the businesses after the acquisitions. All forward-looking statements are qualified in their entirety by this cautionary statement and none of Invisa, Uniroyal nor Wardle Storeys undertakes any obligation to revise or update this press release to reflect events, developments or circumstances after the date hereof.