NEW YORK, NY -- December 27, 2021 -- InvestorsHub NewsWire --
ILUS International Inc (OTC:
ILUS) is a Mergers and Acquisitions company focused on
acquiring and developing public safety technology-based companies
across the globe. Leading up to the completion of this acquisition,
ILUS had previously completed three acquisitions in the first two
quarters of 2021, and since then the company has agreed and signed
pre-contract agreements for a further four acquisitions which it is
in the process of completing. Of the four agreed acquisitions, ILUS
has now completed the acquisition of Bull Head Products Inc and
will take over the ownership and operation of the business with
immediate effect.
Bull Head Products is a specialist aluminium truck bed
manufacturer and vehicle converter with customers across the United
States in multiple sectors, including wildland firefighting and
rapid response fire and rescue. ILUS has agreed the acquisition of
Bull Head Products Inc for an undisclosed cash amount which is
linked to performance clauses and a small amount of restricted
shares. The company has acquired Bull Head Products primarily due
to its strategic importance for the manufacturing of ILUS rapid
response vehicles, vehicle conversions and commercial electric
utility vehicle assembly. In terms of revenue and corresponding
cost, the acquisition is the smallest of ILUS’ current round of US
acquisitions, generating just over $1 million dollars of profitable
annual revenue. As with all current and upcoming ILUS acquisitions,
Bull Head Products holds extraordinary growth potential. Since its
involvement with ILUS, the company has already seen sales orders
increase and now has several significant vehicle contracts in its
sales pipeline, including one deal of over $1.2 million. For this
opportunity, Bull Head Products is currently manufacturing the
first vehicle for the customer as a Proof of Concept to gain final
approval for the larger manufacturing contract.
ILUS will be using Bull Head Products to manufacture FireBug’s
rapid response firefighting and rescue vehicles and completing
vehicle conversions for North American vehicle contracts. Bull Head
Products will also assemble ILUS’ E-Raptor range of commercial
electric utility vehicles which are to be manufactured in
South-Eastern Europe at the manufacturing plant which ILUS is in
the final stages of acquiring with planned production to begin in
February 2022. Bull Head Products, unlike its competitors, uses
100% aluminium construction and does not use steel subframes which
are prone to rust. Continuing this innovation, ILUS will commence
the manufacturing of its lightweight plastic vehicle bodies and
tanks at Bull Head Products. Plastic vehicle bodies and tanks are
widely used across Europe and are not known to be manufactured in
the US yet, despite being the future of rapid emergency response
vehicle technology. Bull Head Products currently manufactures a
wide range of truck beds, including brush truck beds for wildfire
fighting. Instead of diluting the wildfire truck range on the
company’s website among the full range of its products, ILUS will
be establishing a separate website for the wildfire fighting
vehicles. This separate website will include the current brush
trucks and add rapid response vehicle solutions from FireBug, as
well as links to supplementary products and solutions offered by
other ILUS acquisitions.
The products from both FireBug and the in-progress Georgia
acquisition will be sold via Bull Head Products. Simultaneously,
the products manufactured by Bull Head Products will allow the
Georgian distributor, once the attorneys have completed contracts,
to sell Bull Head Products’ firefighting vehicles. The Georgian
distributor employs 6 sales personnel who are all former or
retained firefighters. Their experienced sales team has previously
not had access to a range of firefighting vehicles which they could
sell to their customer base. They will therefore be able to
leverage their existing relationships to drive increased sales of
FireBug’s firefighting vehicles which are manufactured at Bull Head
Products. Furthermore, the firefighting pumps and equipment
manufactured by Precision Powered Products, which ILUS has also
agreed the acquisition of, will be sold by Bull Head Products to
provide a complete firefighting vehicle solution. These pumps and
equipment will also be sold by the Georgian distributor. This
illustrates the huge cross-selling and up-selling opportunity that
exists for Bull Head Products through the cross-pollination of both
customers and products. The ILUS strategy has always been for
current and future acquisitions to benefit each other and
consequently, the growth trajectory of ILUS. The company is
delivering on its triple pronged acquisition strategy for the
acquisition of manufacturing capability, distribution capability
and technology enhancements in the US.
Bull Head Products Inc was established in 2004 and its truck
beds are widely renowned as the industry benchmark for quality,
appearance, and durability. Bull Head Products currently operates
from its 8,000 square foot facility in Kodak, Tennessee. ILUS is
already looking at options for a 15,000+ square foot facility in
the Knoxville area due to incoming contracts and the current
facility nearing its maximum output. In the short term, ILUS plans
to increase current output from 12 vehicles per month with a lead
time of 16 weeks, to 36 vehicles per month at a lead time of 6-8
weeks. This is necessary to meet the requirements of customers
which Bull Head Products and ILUS are in discussions with. ILUS
will be retaining all existing staff whilst employing a new Sales
Manager, Vehicle Designer, Production/Factory Floor Manager and 6
additional Factory Floor Workers. The Bull Head Products website
which contributes towards nearly 50% of all nationwide sales, is
already in the process of being completely updated. Several
additional upgrades and improvements are planned for the business
in the short term. ILUS expects annual revenue from Bull Head
Products to comfortably exceed $5 million in 2022.
Although Bull Head Products currently services customers across
the US and has supplied customers internationally, ILUS is
unravelling plans to promote the current products to truck dealers
such as Ford, RAM, GMC, and Toyota where there has been interest in
the past, but not enough manufacturing capacity to fulfil
additional stock orders. ILUS is also working with Bull Head
Products to evaluate several distribution inquiries from around the
US which could not move forward due to order books being full and
long lead times. ILUS will be appointing local distributors for
Bull Head Products throughout the US.
ILUS Managing Director, John-Paul Backwell, said the following:
“This is our first completed acquisition in the US, and it
represents an important milestone for us in terms of strategy and
delivery. ILUS is now officially in the United States,
manufacturing and selling its own technology with this being the
first of so many more completed acquisitions to come in North
America. When completing an acquisition, we are often conservative
with our forecasted projections, but we know that when we get the
momentum from the cross-pollination of customers and products, the
nationwide local distribution and automotive dealers, this business
will grow exponentially more than what has been projected. It might
be the smallest acquisition in terms of revenue now, but it’s the
one we are most excited about in terms of growth potential and for
the wider adoption of rapid response vehicles and technology in the
US emergency response industry.”
Nick Link, CEO of ILUS, commented: “It is exciting to close this
acquisition just as we are also about to close a very strong
quarter and draw the curtains on a year in which so much progress
has been made. We expect there is still more to come from us this
year as we head into a very exciting January and new year for ILUS
and its Shareholders.”
For further information on the companies, please see their
communication channels:
Website:https://ilus-group.com
Twitter: OTC_ILUS
Email:IR@Ilus-Group.com
Source: ILUS
Related Links: https://ilus-group.com
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
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statements necessarily involve known and unknown risks and
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results in future periods to differ materially from any projections
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contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
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cautioned not to place undue reliance on forward-looking
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and others should note that we announce material financial
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OTC_ILUS
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