Safe & Green Holdings Corp. Announces Acquisition of Assets and Business of County Line Industrial, Expanding Both its Oil and Gas and Modular Construction Businesses
MIAMI, FL, April 09, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, announces the acquisition of the assets and business of County Line Industrial, LLC, a Durant, Oklahoma business providing welding services in Oklahoma and Texas. The acquisition enhances the Company's access to customers in its ready-mix cement and oil and gas businesses.
The Company believes that the strategic move to bring County Line's welding services in-house will create additional revenue while also improving the profitability of the Company's modular manufacturing business. Safe & Green has a number of shipping container-based projects in its sales pipeline that stand to directly benefit due to planned increases in efficiency and margins as a result of this acquisition. Further, County Line will continue to source new oil and gas customers in the Midland, Texas region where its business has grown substantially.
Michael McLaren, Safe & Green Holdings CEO commented, "County Line is the latest in a series of strategic acquisitions that we believe will create measurable shareholder value, while creating additional support for our oil and gas subsidiary Olenox. We believe that its foothold in the regional oil and gas business in Oklahoma and Texas complements and creates synergies for our oil and gas service business operated as Olenox. Combined with our recent announcement on the acquisition of Winchester Oil and Gas, we believe we are creating additional opportunities for productivity, efficiency and customer acquisition that will help to support our emerging leadership position in our market. We continue to look for new opportunities to drive shareholder value and create new opportunities for growth and will provide updates as they emerge."
About Olenox Corp.
Olenox Corp. is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully integrate County's lines welding services business into its modular construction business, the effect of government regulation, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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