MagneGas Applied Technology Solutions - Extending retail platform in Greater Texas
MagneGas’s Q318 results show the beneficial impact of the three acquisitions made earlier this year, with revenues trebling to $2.6m. Management continues to pursue this ‘buy-and-build’ strategy, recently completing three small acquisitions that strengthen its retail network in the key Greater Texas region. As management held back on sales recruitment in anticipation of these transactions, organic growth was muted over the summer so we leave our estimates broadly unchanged.
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