AAP, Inc. To Acquire 18% Stake in Redtail, LLC for $1.5 Million
Cheyenne, Wyoming, July 14, 2021 (GLOBE NEWSWIRE) -- AAP, Inc. (OTC Pink: AAPJ) today announced that it has entered into a definitive agreement to acquire an 18 percent stake in Redtail, LLC, a privately held construction company, for $1.5 million in cash. Under the terms of the agreement, AAP, Inc., has the option to acquire the remaining 82 percent of Redtail.
APP, Inc. President and CEO Paul Bakajin commented, "This investment in Redtail, LLC will provide us with a presence in an emerging growth industry in a financially and operationally prudent way. I have always viewed AAP, Inc, being a business leader in an attractive growth category for us to expand our presence beyond just one business model. This transaction gives us the opportunity to do that with a business partnership with Redtail, LLC. Redtail, LLC has a first-rate management team with a combined 40 years of experience within the construction industry, talented employees and a mission, values and commitment to innovation that are very closely aligned with our own, and we are excited to move forward with them."
"Redtail, LLC and AAP, Inc. are complementary in our respective industry capabilities," said AAP, Inc. CEO and President Paul Bakajin. "We are passionate about building innovative and successful businesses. Ultimately, this will give us more resources to grow."
With 2021 working projects in excess of $12 Million, Redtail, LLC is projected to have one of its best years to date. Redtail, LLC continues to surprise us with how much growth and progress it has made in the last few years. Redtail, LLC was founded just a few years ago and is now at a stage where expansion means taking on a quality partner.
This partnership significantly enhances both AAP, Inc., and Redtail, LLC. Going forward, the two companies will work together to pursue revenue-generating and cost-saving opportunities to improve operational efficiency. For AAP, Inc. leveraging our portfolios of strong businesses will enhance our financial position and increase shareholder value. More information about Redtail, LLC will be provided very soon. Their website is: .
Mr. Bakajin also stated, “I am very excited and grateful to be working with Redtail, LLC. They are very experienced professionals with a long history in the Construction industry. This transaction will provide us with another great opportunity to take our company further along the road to prosperity.
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