Sprout Announces Completion of Strategic Acquisitions
Pueblo, CO, Sept. 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Sprout Tiny Homes, Inc. (OTCQB: STHI) (the “Company” or “Sprout”), announced today it has closed two significant acquisitions creating a modern, scalable residential construction company and the beginning of vertical construction of high-performance single-family homes and townhomes in the North Vista Highlands subdivision in Pueblo, Colorado.
As follow-on to the Company’s February 22nd announcement, it has officially closed the acquisition of Pure Zero Construction, LLC (“Pure Zero”). That will be the builder and marketing company of high performance, zero energy ready homes. To scale its construction capacity, Pure Zero completed the acquisition of Legacy Homes of Pueblo, a 29-year-old construction company that has built hundreds of homes in the Pueblo, Colorado region. Brian Miller, CEO of Legacy Homes will be the CEO of Pure Zero Construction, a wholly owned subsidiary of Sprout.
The formation and scalability of Pure Zero further demonstrates Sprout’s growth strategy to deliver high-performance, non-toxic, Zero Energy Ready homes in the new North Vista Highlands sub-division. Pure Zero is in negotiations with a developer to begin construction of townhomes and single-family homes with a production goal of 80+ homes in the next 12 months. The all-electric homes will be constructed with Structural Insulated Panels, with many of them built to the Zero Energy Ready building specifications making them extremely energy efficient, with low or no energy bills.
“This is a significant milestone for our strategy of growth through acquisitions and employing next generation construction methods to build homes that establish a new class of healthy homes with high indoor air quality, low or no energy bills, and modern design that maximizes space while reducing the overall physical and carbon footprints,” said Rod Stambaugh, Chairman of Sprout. “We expect to scale through acquisition of like-minded construction companies as well as vertically integrating new building technologies to favorably compete in the red hot post-pandemic housing market. We can build faster and more economically as compared to traditional stick-built building methods, while leveraging technology and less skilled labor and greater margins.”
The Pure Zero constructed homes will utilize Sprout’s building technology that will set a new standard for healthy housing. Technology innovation will highlight non-toxic interiors, superior indoor air quality, EMF reduction, COVID sanitation technology, virus resistant flooring / surfaces, new kitchen technology, and innovative work / workout space with HVAC technology to take comfort to a new level.
Sprout trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies on the OTCQB are current in their reporting and undergo an annual verification and management certification process.
For more information on the company, visit http://sprouttechhomes.com.
Forward Looking Statements:
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