NetworkNewsBreaks – Kontrol Energy Corp. (CSE: KNR) (FSE: 1K8) Closes Acquisition of Ortech Consulting Inc.
Jan 16, 2019
Smart energy technology company Kontrol Energy (CSE: KNR) (FSE: 1K8) this morning announced completion of its acquisition of Ortech Consulting Inc., a leading engineering consulting firm that specializes in Green House Gas (“GHG”) reporting, air quality testing, emission testing and renewable energy/power consulting. ORTECH has a 20-year operating history and a stable client base that includes some of Canada’s largest integrated oil and gas companies. Per the update, ORTECH reported audited gross revenues of $5.3 million and normalized EBITDA of $940,000 for the last fiscal year ending March 31, 2016. Following the acquisition, the company anticipates $10 to $11 million in consolidated annual revenues for 2017, and annual EBITDA in the range of $1.3 to $1.5 million.
“ORTECH is a leader and recognized brand in the Ontario GHG reporting and power generation market,” Kontrol Energy CEO Paul Ghezzi stated in the news release. “We are excited about the closing of this acquisition and we look forward to expanding ORTECH’s unique services and solutions across Canada. With the recently announced Canadian Federal Government carbon tax, large emitters of GHG will be required to better track and verify their emissions. The ORTECH acquisition provides the Company with a leadership position in a rapidly growing market. Further, the acquisition aligns strategically with our intention to create carbon reduction and monetization programs for our customers.”
To view the full press release, visit http://nnw.fm/STk4r
About Kontrol Energy Corp.
Kontrol Energy Corp. (CSE: KNR) (FSE: 1K8) is a leader in the energy efficiency sector through IOT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to its customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions. For more information, visit the company’s website at www.KontrolEnergy.com
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