Galenfeha Finalizes Acquisition Of Daylight Pump, LLC
FT. WORTH, Texas, March 26, 2015 /PRNewswire/ -- Galenfeha, Inc., (OTCBB: GLFH) announced today it has completed the acquisition of Daylight Pump, LLC, which makes it the manufacturer of one of the most accurate chemical injection pumps in the oil and gas production market.
This new product line will have a positive impact on the company's revenue growth in the coming months by allowing Galenfeha to penetrate the chemical injection pump market for oil and gas producers.
The pump system's design and technology allows for increased chemical injection accuracy previously unheard of in the current market. Such increased accuracy significantly reduces chemical contamination in the production process while controlling chemical cost and waste. Galenfeha will be moving production to the company's manufacturing and distribution facility in Shreveport, Louisiana.
"We are happy to announce the completion of the Daylight transaction," said James Ketner, President and Chief Executive Officer of Galenfeha. "The acquisition adds additional products to our revenue stream and reaffirms our goals outlined on our 2015 Statement of Work disclosed in our latest filings with the Securities and Exchange Commission. The transaction delivers a significant premium to our stockholders and offers them, our business, and our business partners the opportunity to realize these additional benefits from the synergies of the combination."
The chemical injection market share approaches $1 billion annually in the United States and North America, alone. Galenfeha will market, service and sell the individual and complete systems via direct sales as well as established relationships with local and national distribution partners such as Fleaux Services of Louisiana, LLC.
About Daylight Pump, LLC
Daylight Pump, LLC is a unique and exciting manufacturer in the industry with the advent of a revolutionary, hybrid, electric over pneumatic system which merges the positive benefits of both aspects of chemical injection modalities. The pneumatic based system easily services the very high-pressure environment of many of today's oil and gas locations. The electric rate control brings a new level of precision to the fluid volume control management. The combination of these two parameter control systems represents a measurable shift in efficiency, reliability, cost management, and profitability to individual well locations as well as entire production fields.
About Galenfeha, Inc.
Galenfeha (OTCBB: GLFH) is a design, engineering, and manufacturing firm with a focus on stored energy and a conscious pursuit of low environmental impact product development. Galenfeha also proudly designs, manufactures and markets a complete line of patent pending, microprocessor controlled, LiFePO4 chemistry battery systems, as well as a full line of proprietary chemical injection systems.
For more information on Galenfeha's products and services, please visit www.galenfeha.com.
President/Oil and Gas
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/galenfeha-finalizes-acquisition-of-daylight-pump-llc-300056460.html
SOURCE Galenfeha, Inc.