US' Universal Power acquires The Import Export group

The acquisition was made with a combination of cash and stock for approximately $2.1 million. The acquisition is part of Universal Power Industry Corporation’s overall strategic growth plan of controlling all aspects of its business in house and becoming 100 per cent self-reliant while increasing margins. The Import Export will add approximately $1.6 to $1.8 million of revenue to the company at this time while reducing logistical costs currently being outsourced by the company. The company will operate as a stand-alone wholly owned subsidiary with an eye towards continued growth, the company said in a press release.

“We are very excited about this acquisition and the opportunity it provides Universal Power Industry Corporation to have control of our own logistics internally. We are continuously looking for opportunities to strategically increase our global assets while increasing revenues and margins. The more in house control of our operations we have, results in increased control and margins. Our aggressive but cautious strategy will complement other upcoming acquisitions and new contracts that are in the pipeline,” Chiu, president of Universal Power Industry Corporation, said.

ALCHEMPro News Desk (GK)