BOSTON, MA / ACCESSWIRE / May 23, 2024 / Tiderock Companies, Inc. (OTC PINK:TDRK) is thrilled to announce the acquisition of MTAG Global Inc., establishing a formidable international materials company. MTAG Global is the exclusive distributor for MTAG Composites and boasts a robust pipeline with annual revenues exceeding $25 million.
MTAG Global Inc. ("MTAG") holds a strong position in the European market, delivering a diverse range of services across multiple sectors, including:
- Rail
- Aerospace
- Marine
- Automotive
- Construction
- Defense
MTAG is strategically poised to capitalize on the burgeoning composites market, which was valued at USD $105.75 billion in 2022 and is projected to reach USD $191.36 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032. For the fiscal year 2024, MTAG forecasts gross revenue of USD $12.5 million.
The previously announced transaction to acquire MTAG Composites, LTD has been indefinitely postponed. This new arrangement allows Tiderock, through its wholly owned subsidiary MTAG Global, to foster strategic relationships with MTAG Composites while also pursuing additional growth opportunities.
As part of this acquisition, Tiderock has issued 800,000 Series C Preferred Shares to the owners of MTAG Global, Inc. MTAG Global, Inc. will also pay MTAG Composites a one-time fee of $250,000 to secure the rights to become its exclusive global distributor. Additionally, MTAG Global has the authority to appoint one board member to Tiderock's Board of Directors.
Tiderock Companies will now operate under two primary divisions: manufacturing and real estate. MTAG will spearhead the manufacturing efforts, expanding its UK footprint to the United States and additional sites within the UK. In parallel, the Real Estate division, under Sora Ventures, is actively developing multiple residential projects in the Southeast United States, amidst stabilized interest rates and sustained housing demand in targeted US markets.
About Tiderock Companies, Inc.:
Tiderock Companies is a diversified investment and advisory services company, specializing in real estate, land development, infrastructure, and private equity. With over 20 years of experience, the Company excels in land development, mixed-use real estate development, project management, and public-private partnerships. Headquartered in Boston, MA, Tiderock Companies, Inc. (OTC Pink: TDRK) can be contacted at www.tiderockcompanies.com or by phone at (800) 791-8433.
About MTAG Global Inc.:
MTAG Global Inc. is the exclusive global distributor for MTAG Composites, LTD, specializing in the manufacture of high-quality phenolic, epoxy, and polyester glass fiber and carbon fiber reinforced plastic moldings. Their diverse product mix serves customers in the aerospace, automotive, marine, rail, and construction industries.
Forward-Looking Statements:
This press release includes forward-looking statements regarding beliefs, plans, expectations, or intentions about the future. Actual results could differ from those projected due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update them or the reasons actual results could differ. We believe that the beliefs, plans, expectations, and intentions expressed in this press release are reasonable, but there can be no assurance they will prove accurate.
Contact Information:
Tiderock Companies, Inc.
53 State Street, Suite 500
Boston, MA 02109
Thomas B. Fore, CEO
Email: [email protected]
Phone: (800) 791-8433
SOURCE: Tiderock Companies, Inc.
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