Charter Equities, Inc. Completes First RV Dealership Acquisition
Posted by ~Ray @ 2007-10-10 17:23:46
contract Equities. Inc. (Pink Sheets: CEQI) announced today that it has launched its RV dealership consolidation acquisition plan with the acquisition of Saddleback Recreational Vehicles. Inc. a highly visible recreational vehicle dealer in Colton. California. Saddleback operated from Irvine. California from 1991 before moving to its new state-of-the-art. Colton dealership facility in 2006. Their new dealership includes a comfortable atmosphere and extensive service capabilities for the well-heeled RVer. With add up annual sales of $24,938,000 the past four years. Saddleback has a recognized and well established presence in the RV dealership community. Saddleback has exclusive marketing territories for the following products or manufacturers: 5th go around Trailers by Carriage. Inc.; Toyhaulers by Dutchman; categorise C and Class A motorhomes by Gulfstream and Four Winds a division of Thor and luxury motorhomes by Foretravel. Saddleback’s website is at. As a wholly owned subsidiary of Charter. Saddleback ordain continue to be managed by Michael Sebastian as Dealer Principal of the Saddleback dealership. Mr. Sebastian. Saddleback’s owner and operator since 1991 exchanged 100% of the have of Saddleback for 25,000,000 shares of contract common have and the commitment by Charter to additional working capital contributions to Saddleback for operations and future acquisitions. The Saddleback acquisition is the first step in Charter’s new plan to merge the RV dealership industry through public ownership in the model of the franchised new car dealer industry consolidation led by AutoNation (NYSE:AN). Penske Auto assort (NYSE:PAG). assort 1 (NYSE:GPI). Sonic (NYSE:SAH). Asbury (NYSE:ABG) and Lithia (NYSE:LAD). “Once we digest this Saddleback acquisition it is our goal with the leadership of Mike Sebastian to complete two to three other RV dealership acquisitions in the next twelve months and to add up in excess of $150,000,000 in revenues over measure,” said Charter President Mat Curtner. In addition to the Saddleback acquisition. Charter currently invests in owns and manages real estate in the Phoenix market through its other subsidiaries. contract Investment Properties. Inc and contract Media and Marketing. Inc with a website at.---[ADVERTHERE]Related article:
http://rvbasics.com/2007/09/charter-equities-inc-completes-first-rv.html
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