Green Bridge Industries has acquired a ten percent interest in the private Florida based corporation, Team Energy. The purchase price of $400,000 will be paid in the form of 4,000,000 shares of restricted common stock in Green Bridge Industries based on $0.10 per share. According to the terms of the agreement, Green Bridge will have the option to purchase the remaining equity stake in Team Energy for future cash consideration.
Team Energy is projected to generate an EBITDA of $3,635,180 in 2012 and total revenue of $4,320,000. The Company also projects an EBITDA of $43,551,800 and total revenue of $50,400,000 by 2016.
“This acquisition immediately enables Green Bridge Industries to enter various vertical markets,” stated William White, Chairman and CEO of Green Bridge Industries, Inc. “The experience both teams bring together positions the Company for tremendous growth throughout 2011.”
USA, Saranac, MI & Altamonte Springs, FL