Bulova Technologies Group Inc. recently announced the execution of purchase agreements for all issued and outstanding stock of the Twiss family of companies by its subsidiary, BT Twiss Transport Company LLC, in Clearwater, Florida.
Following a letter of intent drafted by Bulova in June 2015, the closing of the transaction is scheduled for not later than Jan. 30, 2016. A non-refundable deposit to secure the transaction has been paid.
Headquartered in Largo, Florida, the Twiss family of companies comprises significant transportation, cold storage and logistics enterprises situated within the Tampa, Florida area: Twiss Transport Inc., Twiss Cold Storage Inc. and Twiss Logistics Inc. Together, the three Twiss entities provide medium to long haul, refrigerated and dry transportation and storage services to customers throughout the continental U.S., with sales in excess of $30 million annually.
“We are excited about this acquisition,” Bulova Technologies Group President and CEO Stephen L. Gurba said. “The Twiss family of companies adds a complementary dimension to Bulova Technologies Group Inc. and brings established and profitable businesses into the fold. We look to add both new business and complimentary [sic] acquisitions to our new transportation segment during 2016.”
Bulova Technologies Group Inc., Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Health Care Products LLC, Bulova Technologies Compliance & Security LLC and Bulova Technologies Finance LLC are all headquartered in Clearwater.