ORLANDO, Fla., July 29, 2010 (GLOBE NEWSWIRE) -- Freedom Environmental Services (Pink Sheets:FRDM) announced today that it has closed the cash purchase of all the assets of Vac and Jet Services, LLC. Vac and Jet Services, a lift station maintenance and repair company based in Central Florida, has proven technology and service solutions for most wastewater solutions.
Vac and Jet Services has the technology to provide turnkey solutions for most wastewater service needs, including Specialized Waste and Debris Removal and Hydro Excavating. Management believes that the addition of the Vac and Jet technologies to Freedom Environmental's green wastewater services will allow Freedom to gain an even greater market share in Central and Northern Florida. Vac and Jet clients include Lennar and The Coca-Cola Company; its gross reoccurring revenue averaged $700,000 per year. Management believes, but cannot guarantee, with this addition to its already existing companies, that it will exceed current stated reoccurring revenues.
"We believe this acquisition is an integral part of our growth strategy expanding our market base into the rest of Central and Northern Florida," said Freedom CEO, Michael Borish. "The newly-acquired equipment and services are also part of our green technology mandate and optimize our wastewater solutions while promoting a green and sustainable environment."
Management believes that the global market for green technologies is estimated to grow to $700 billion by the end of 2010 on the back of demand for advanced and efficient distribution, collection, transfer, and treatment solutions. Numerous green technologies are being used for optimum water and wastewater treatment and promoting green and sustainable environment. This green movement includes optimum water and wastewater management among utilities and industries. Companies are increasingly resorting to green technologies to not only conserve resources, but to also save costs.
About Vac and Jet Services, LLC
Vac and Jet Services provides "green solutions" for lift station, storm and sewer system services through Central and Northern Florida. In our managements' estimation, Vac and Jet Services business has witnessed growth rates comparable to the overall growth rate of business in Central Florida over the last several years. www.vacandjetservices.com
About Freedom Environmental Services
Freedom Environmental Services is a "Green" wastewater management company with its headquarters in Orlando Florida. Freedom provides the most comprehensive, cost-effective and reliable treatment systems and services. Freedom offers conventional wastewater treatment processes and systems, disinfection systems and cleaning contracts. Freedom's products and services are designed to help keep your water safe and clean and your company profitable.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. FRDM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the FRDM's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors, which could cause the FRDM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. FRDM undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.