Buckeye Ventures, Inc. Receives $5 Million in Funding.Funds to Be Used to Acquire Entities in the Heating, Ventilation and Air Conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. (HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free ) and Plumbing Markets SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Buckeye buckeye: see horse chestnut. buckeye Any of about 13 trees and shrubs of the genus Aesculus (family Hippocastanaceae), native to North America, southeastern Europe, and eastern Asia. Ventures, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BEYV) today announced that it has secured $5 million in funding. The funding is being provided by Trafalgar Capital Specialized Investment Fund, which is making its first investment in Buckeye. Alan Mintz, Buckeye Ventures Chief Executive Officer, states, "The new funds will enable us to make strategic acquisitions, which should nearly double revenues within the first 12-months after closing. It is great that a fund with the stature of Trafalgar Capital shares our vision for the HVAC and Plumbing industries and will help us realize Buckeye's roll-up strategy in these key residential markets. "To have the confidence of the institutional investment community at this stage of our company's progress is perhaps one of the greatest compliments that we could receive. Building on the strength of our existing shareholders, we are pleased to have forged relationships with such a strong group of new strategic and financial investors as Trafalgar Capital and look forward to working with them as we expand our operations. Buckeye's performance has improved significantly over the last year. This new capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. will enable us to implement new business initiatives that we have been working on, all of which will enable us to gain market share throughout the HVAC and plumbing industry," concluded Mr. Mintz. This capital raise brings the Company a step closer towards its objective of establishing a nationally recognized brand in the $50 billion residential HVAC (heating, ventilation and air conditioning) and plumbing home services industry. Buckeye continues to target small- and mid-sized local and regional operators, providing them with the opportunity to become part of a growing national conglomerate that is a publicly held company. Buckeye plans to implement the same highly successful strategy that it has used in its Boston, Sacramento and Modesto locations, which resulted in double digit Noun 1. double digit - a two-digit integer; from 10 to 99 integer, whole number - any of the natural numbers (positive or negative) or zero; "an integer is a number that is not a fraction" growth in both revenues and net profit. About Buckeye Ventures, Inc. Buckeye Ventures is engaged in all aspects of the residential HVAC and plumbing services industry. Being a part of the Company's network provides subsidiaries with: standardized policies and operating procedures which the Company's management team has adopted from their extensive industry experience and that have wide industry acceptance and application; comprehensive training programs to improve operating procedures and customer relations. The Company's strong balance sheet and liquidity enables each region to expand through various marketing strategies. Buckeye is headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. . For more information, please visit www.beyv.com. Disclaimer To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. |
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