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Pittsburgh, PA, Dec. 14, 2023 (GLOBE NEWSWIRE) — Himalaya Technologies, Inc. (OTC: HMLA) announces it intends to consolidate specialty contractors, specialty construction companies, and providers of adjacent value added services in the southeast. Management intends to assemble a portfolio of businesses with scope, scale, and breadth that can benefit from strong secular population growth trends and recurring demand for rebuild and repair work in Florida and surrounding states. Today, Himalaya is in late stage discussions with two initial targets generating meaningful revenue that management envisions will act as platform businesses in Florida with attractive business metrics and growth opportunities.
The first target, “Project Combo”, is a manufacturer and installation provider of analog and digital signs, mailboxes, and related equipment to home communities, businesses, and municipal government in the southwest peninsula. Project Combo, founded in 2009, is benefiting from substantial rebuild work following last year’s devastating Hurricane Ian which ravaged Ft. Myers and Naples. Projected to close out 2023 at several million dollars revenues with gross margins of 20%-25% and positive EBITDA, the business has estimated backlog of approximately $4 million, is benefiting from an easing labor market and competitive environment driving better margins and installations and is experiencing strong demand. The Company has completed its 2021-2022 audit and therefore is ideally positioned to add to Himalaya’s PCAOB audited business.
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