May 19 2010
SSGI, Inc. (OTC: SSGI) today announced the recent acquisition of B&M Construction Co., Inc., a construction company headquartered in Lakeland, Florida, that specializes in the design, construction and maintenance of retail petroleum facilities.
Through the acquisition, SSGI also acquired a 70% interest in Willis Electric, L.L.C.Willis, also headquartered in Lakeland, Florida, is an electrical contractor specializing in "big box" retail installations.
In connection with the acquisition, three senior executives and former shareholders of B&M – Phillip Lee, William Denmark and Evan Finch – joined the executive management team of SSGI.
"We are delighted to announce this acquisition," said Larry Glasscock, SSGI's newly appointed President and Chief Executive Officer. "Adding B&M greatly increases SSGI's market share, revenue production, and cash flow from operations. The combination also expands existing operations in 13 additional states. Phillip Lee, Billy Denmark and Evan Finch bring strong experience and demonstrated success to the SSGI team. The company will certainly benefit from their leadership and ongoing contributions."
Former B&M President, Chief Executive Officer and majority shareholder, Bobby L. Moore, Jr., added: "I believe the combination of SSGI, B&M and Willis is one that will benefit the customers and employees of B&M and positions SSGI for great success. I look forward to continuing my relationship with the company as a significant owner of SSGI shares." Mr. Moore will assist in the transition as a consultant to SSGI.
Source: http://www.surgesolutionsgroup.com/