Kronos Advanced Technologies intends to acquire Suarez Corporation Industries to drive growth and innovation
From GlobeNewswire: 2024-08-27 06:18:00
Kronos Advanced Technologies Inc. has announced a non-binding Letter of Intent to acquire Suarez Corporation Industries, a renowned direct marketing company. The strategic acquisition aims to drive growth and revitalize the legacy of Suarez Industries, known for its innovative products and customer satisfaction. This partnership marks a pivotal moment for both companies. Suarez Industries, founded in 1968, has become a leader in direct marketing with a commitment to quality and innovation. The company markets a wide range of products globally, including the popular EdenPURE™ air purifiers and heaters. Known for its philanthropic efforts, Suarez Industries is a trusted name in households nationwide. The proposed acquisition by Kronos Advanced Technologies is expected to propel Suarez Industries to $100 million in annual sales within 12 to 36 months. This growth will be supported by aggressive advertising and expansion strategies, positioning the company for continued success. The acquisition is contingent upon resolving financial obligations and securing capital, with plans to finalize the deal in the next 90 days. Kronos Advanced Technologies Inc., founded in 2002, is a leader in air purification technology. The company’s patented processes focus on air movement, filtration, and purification systems, providing innovative solutions for consumer electronics and medical-grade products. Kronos devices use high-voltage technology to move, filter, and sterilize air efficiently, reducing energy consumption and improving indoor air quality. The company is known for its advanced technology and commitment to customer satisfaction.
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