EX-99.1
4
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
Press
Release Source:
Charys Holding Company, Inc.
Charys
Finalizes Acquisition of Cotton Companies
Thursday
March 1, 1:27 pm ET
ATLANTA--(BUSINESS
WIRE)--Charys Holding Company, Inc. ("Charys") (OTCBB:CHYS - News), a leader
in
remediation and reconstruction, and in wireless communications and data
infrastructure, announced today that it has finalized, through its subsidiary
C&B Holdings Company, Inc. ("C&B Holdings"), the purchase of 100% of
Cotton Companies ("Cotton"). As previously announced on December 11, 2006,
Charys acquired a 40% interest in Cotton with an option to purchase the
remainder of the company by March 8, 2007. With operating revenues of more
than
$54 million, 320 employees, 10 offices and over 6000 pieces of vehicles and
heavy equipment, Cotton supports nearly 1.3 billion square feet of buildings
and
a base of over 90 customers.
Regarding
Cotton, Charys CEO Billy V. Ray, Jr. stated, "We are pleased to close this
important acquisition for Charys just over 6 months after announcing the deal.
Cotton represents a substantial opportunity to increase our disaster remediation
and reconstruction market presence with offices located nationwide".
As
previously announced, Charys created C&B Holdings in order to assimilate
Cotton with Charys' existing restoration and remediation subsidiary, Crochet
and
Borel Services, Inc. ("C&B"). The Remediation and Reconstruction businesses,
operating under the Cotton brand, will provide services including emergency
planning and coordination, response to loss, reconstruction and restoration
and
environmental remediation. Services cover the restoration and maintenance of
commercial, industrial, marine, residential and institutional properties.
Troy
Crochet, President of C&B commented, "With Cotton, we increase the
predictability of our revenue stream while simultaneously strengthening our
ability to react to a major catastrophe throughout the U.S. as well as in Canada
and Mexico. We also look forward to offering to our combined customer base
the
additional products and services they require to ensure continuity of their
business operations, all from a single source, branded "Cotton". We have spent
a
considerable amount of time planning and integrating our companies, now we
are
launching a powerhouse in the industry, with an unsurpassed ability to meet
our
customer's toughest demands".
"We
have
brought together two leaders in the remediation and reconstruction industry
to
create one of the largest and fastest growing companies in this market", added
Pete Bell, President of Cotton. "By combining our complementary strengths and
intelligently integrating our broad range of assets, we are well positioned
to
provide even greater value to customers, expand our Cotton brand and pursue
new
opportunities for growth. We will have more to say about this over the next
30-45 days as we begin to realize the benefits of the two companies' efforts".
This
press release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are based upon Charys' current expectations and speak
only as of the date hereof. Actual results may differ materially and adversely
from those expressed in any forward-looking statements as a result of various
factors and uncertainties, including uncertainties as to the nature of the
industry, including changing customer demand, the impact of competitive products
and pricing, dependence on existing management and general economic conditions.
Charys' Annual Report on Form 10-KSB, recent and forthcoming Quarterly Reports
on Form 10-QSB, recent Current Reports on Form 8-K and other SEC filings discuss
some of the important risk factors that may affect Charys' business, results
of
operations and financial condition. Management undertakes no obligation to
revise or update publicly any forward-looking statements for any reason.
About
Charys Holding Company, Inc.
Headquartered
in Atlanta, Georgia, Charys Holding Company, Inc. (OTC Bulletin Board: CHYS.OB
-
News) is a publicly traded company focusing on two primary business lines;
remediation and reconstruction, and wireless communications and data
infrastructure.
NOTE:
The
names of actual companies and products mentioned herein may be the trademarks
of
their respective owners.
Contact:
Charys
Holding Company, Inc.
Main
Phone: 678-443-2300
Fax:
678-443-2320
irdept@charys.com
or
Corporate
Evolutions, Inc.
Investor
Relations:
Fred
Lande, 516-482-6565
Fax:
516-482-6099
info@corporateevolutions.com
Source:
Charys Holding Company, Inc.

EX - 99 . 1 4 ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Press Release Source : Charys Holding Company , Inc . Charys Finalizes Acquisition of Cotton Companies Thursday March 1 , 1 : 27 pm ET ATLANTA -- ( BUSINESS WIRE ) -- Charys Holding Company , Inc . ( " Charys " ) ( OTCBB : CHYS - News ) , a leader in remediation and reconstruction , and in wireless communications and data infrastructure , announced today that it has finalized , through its subsidiary C & B Holdings Company , Inc . ( " C & B Holdings " ) , the purchase of 100 % of Cotton Companies ( " Cotton " ) . As previously announced on December 11 , 2006 , Charys acquired a 40 % interest in Cotton with an option to purchase the remainder of the company by March 8 , 2007 . With operating revenues of more than $ 54 million , 320 employees , 10 offices and over 6000 pieces of vehicles and heavy equipment , Cotton supports nearly 1.3 billion square feet of buildings and a base of over 90 customers . Regarding Cotton , Charys CEO Billy V . Ray, Jr. stated , " We are pleased to close this important acquisition for Charys just over 6 months after announcing the deal . Cotton represents a substantial opportunity to increase our disaster remediation and reconstruction market presence with offices located nationwide " . As previously announced , Charys created C & B Holdings in order to assimilate Cotton with Charys ' existing restoration and remediation subsidiary , Crochet and Borel Services , Inc . ( " C & B " ) . The Remediation and Reconstruction businesses , operating under the Cotton brand , will provide services including emergency planning and coordination , response to loss , reconstruction and restoration and environmental remediation . Services cover the restoration and maintenance of commercial , industrial , marine , residential and institutional properties . Troy Crochet , President of C & B commented , " With Cotton , we increase the predictability of our revenue stream while simultaneously strengthening our ability to react to a major catastrophe throughout the U . S . as well as in Canada and Mexico . We also look forward to offering to our combined customer base the additional products and services they require to ensure continuity of their business operations , all from a single source , branded " Cotton " . We have spent a considerable amount of time planning and integrating our companies , now we are launching a powerhouse in the industry , with an unsurpassed ability to meet our customer 's toughest demands " . " We have brought together two leaders in the remediation and reconstruction industry to create one of the largest and fastest growing companies in this market " , added Pete Bell , President of Cotton . " By combining our complementary strengths and intelligently integrating our broad range of assets , we are well positioned to provide even greater value to customers , expand our Cotton brand and pursue new opportunities for growth . We will have more to say about this over the next 30 - 45 days as we begin to realize the benefits of the two companies ' efforts " . This press release contains forward - looking statements within the meaning of the " safe harbor " provisions of the Private Securities Litigation Reform Act of 1995 . These statements are based upon Charys ' current expectations and speak only as of the date hereof . Actual results may differ materially and adversely from those expressed in any forward - looking statements as a result of various factors and uncertainties , including uncertainties as to the nature of the industry , including changing customer demand , the impact of competitive products and pricing , dependence on existing management and general economic conditions . Charys ' Annual Report on Form 10 - KSB , recent and forthcoming Quarterly Reports on Form 10 - QSB , recent Current Reports on Form 8 - K and other SEC filings discuss some of the important risk factors that may affect Charys ' business , results of operations and financial condition . Management undertakes no obligation to revise or update publicly any forward - looking statements for any reason . About Charys Holding Company , Inc . Headquartered in Atlanta , Georgia , Charys Holding Company , Inc . ( OTC Bulletin Board : CHYS . OB - News ) is a publicly traded company focusing on two primary business lines ; remediation and reconstruction , and wireless communications and data infrastructure . NOTE : The names of actual companies and products mentioned herein may be the trademarks of their respective owners . Contact : Charys Holding Company , Inc . Main Phone : 678 - 443 - 2300 Fax : 678 - 443 - 2320 irdept@charys.com or Corporate Evolutions , Inc . Investor Relations : Fred Lande , 516 - 482 - 6565 Fax : 516 - 482 - 6099 info@corporateevolutions.com Source : Charys Holding Company , Inc .