Cleaning & Restoration Breaking News

Enviro-Clean Explores Strategic Alternatives, Completes Sale of Subsidiary

San Antonio, Texas (Business Wire) -- Enviro-Clean of America Inc.’s board of directors has voted unanimously that it would be in the best interest of its shareholders to discontinue the acquisition of janitorial supply companies due to changes in the marketplace and competition.

The board formed a special Mergers and Acquisition committee to the Board to explore strategic alternatives, which will include acquisitions outside of the janitorial supply industry and mergers with private or public companies.

Additionally, the company has completed the sale of June Supply Corp for $1,400,000 to York Supply LTD. Enviro-Clean expects to take a non-cash charge against current earnings of approximately $1,800,000 on the transaction. Enviro-Clean had owned June Supply Corp. since its September 1999 acquisition.

In as separate announcement the Board of Directors has voted unanimously to move the headquarters of Enviro-Clean to San Antonio, Texas. The corporations operations will be based in San Antonio on a permanent basis.

The board also voted unanimously to add Melvin Schreiber CPA, to the Board of Directors and to accept the resignation of Mark A. Rice. Schreiber is the Managing Partner in the firm of Moses and Schreiber, LLP. His years of accounting practice include over thirty years of financial planning, estate planning and participation in mergers, acquisitions and public offerings. Schreiber has valued enterprises ranging in value from $100,000 to over $20 million dollars.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Yes, it's only February now - several weeks or months before the thaw depending on where you live - and hopefully this winter has been a profitable one for your business during the historical slow season. But now's also the time to start planning for the busy season - spring - so that you can hit the ground running. In this episode of The Hitman Advertising Show, John Braun shares tips and tricks on how to make this spring your most profitable yet.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2015 March

The March ICS issue features content on cleaning services, green chemistry, encapsulation, terrazzo floors, educating clients and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.png

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view