Texas company enters merger with ActionView

October 23, 2013 -  By

Austex Holdings, an Austin, Texas-based landscape and pool construction company, entered a merger with ActionView International.

ActionView, which has signed a letter of intent to merge, reported 2012 revenues of $1,979,967 and estimated 2013 revenues of $2,370,000. All other operations associated with ActionView were subsequently disposed or sold off. Austex Holdings has elected to be the successor issuer to ActionView for reporting purposes, which classifies this transaction as a reverse merger.

Austex Pools was established in 2010 and since then it has been recognized with multiple international and regional design awards. Austex intends to expand outside of the regional market while also pursuing a vertical integration strategy through the acquisition of service and construction companies that complement Austex business.

Jose Chavez, ActionView CEO, said of the transaction: “While gold prices remain strong nationally, we felt that the business model of operating gold stores would be a secondary operation. There is heavy competition from both local and national players that drive the net margins lower. As a result, management felt that focusing our efforts on the service-based Austex Holdings, with their Austex Pools subsidiary represents the greatest potential for shareholder return.”

ActionView, Chavez added, is in the process of making the necessary filings to become a fully-reporting OTCBB-listed company.


LM Staff

About the Author:

Comments are currently closed.