Houston Natural Resources (OTC: HNRC) has entered into an agreement to acquire additional wastewater treatment facilities; the strategic move aligns with the company’s focus on developing a network of wastewater treatment facilities. According to the announcement, the acquisition, which should close this month, involves a water-well services and drilling company. The company has a recurring customer/service revenue of 68% with a projected recurring customer/service revenue of 80% looking forward. The seven-year-old company focuses in municipal, mining, industrial and agricultural water wells and pump systems with operations in the western region of the country; the company’s fleet includes both small and large drilling rigs, support equipment and three saltwater disposal units. HNRC notes that revenues and EBITDA for 2021 were approximately $7.2 million and $500,000 with 2022 numbers being projected at $8.5 million revenue and $1 million EBITDA and 2023 revenues and EBITDA estimated to be $11 million and $1.5 million respectively. The acquisition transaction will involve a combination of cash and securities.
To view the full press release, visit https://ibn.fm/KfFqM
About Houston Natural Resources Corp.
Houston Natural Resources is a diversified holding company with business operations and investments. The portfolio companies include investments in energy, information technology and healthcare. For more information about the company, please visit www.HNRCHoldings.com.
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