JP 3E Holdings Inc. (OTC:SPZI) Stock In Focus After Acquisition News
This morning, most investors are going to look into those companies that may have come into focus on Tuesday, and one of the companies that could come into focus is JP 3E Holdings Inc. (OTC:SPZI), formerly named Spooz Inc. The company was in focus yesterday after it announced that it had been successful in completing the acquisition of a 51% stake in Power Engineering Corporation (PEC) from Imperial Holdings Inc.
In the news release, the company noted that the acquisition was part of a strategic move related to expansion and aimed to enhance the presence of JP 3E in the LNG (liquefied natural gas) sector thanks to the advanced capacities of PEC. It was also noted that PEC commanded a valuation of $24 million and had already bagged contracts for 2023, 2024, and 2025, which further strengthened its project pipeline.
PEC boasts executive partnerships with some of the biggest names in the industry, like Korea Gas Technology Corporation, A.W. Charleston, and 3X Engineering. As a consequence, PEC was in a position to help JP 3E in banking with more than $100 million in yearly revenues. The Chief Executive Officer and Chairman of JP 3E, John K. Park, spoke about the move from the company as well.
He noted that it was more than a simple acquisition but a major move for the company to eventually reach its lofty aims in the worldwide LNG market. He went on to note that the integration of PEC into JP 3E would bring unmatched expertise and advanced technology to the company’s arsenal, both of which would boost its growth as well as market expansion. Imperial Holdings would have a 49% stake in PEC and would remain in charge of the growth initiatives. It remains to be seen if the JP 3E stock experiences any action today or not.
