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August 13, 2014
09:11 EDTHIITHII Technologies acquires Hamilton Investment Group
HII Technologies announced the acquisition of Hamilton Investment Group for $11.3M in cash and stock. The company expects the acquisition to be immediately accretive to the company's FY14 earnings. The acquisition closed on August 12, The $11.3M purchase price consisted of $9M in cash and $2.3M in shares of the company's common stock valued based on 3,523,554 shares. The funds for the acquisition were secured under a recently announced credit facility with Heartland Bank of Little Rock, Arkansas. Mark Hamilton will remain as president of Hamilton under a newly executed three year employment agreement.
News For HIIT From The Last 14 Days
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May 20, 2015
16:56 EDTHIITHII Technologies reports Q1 revenue $8.5M, one estimate $13.50M
"Operations during the quarter were challenged by inclement weather in February affecting total revenues and margins... Several parts of our operations in Oklahoma and Texas experienced weather related challenges where ice and other issues temporarily disrupted the operations of our customers... Levels of activity have been maintained to a larger extent in the more economically attractive areas of Permian Basin, Delaware Basin, Texas. The company has redeployed assets and crews accordingly. Currently, some of our customers in Oklahoma have moved their activity to parts of Texas. We believe we will continue to see reduced work levels in Oklahoma with select independents and domestic operators with less national acreage," said the company.

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