- Element Designs is a well-established designer and fabricator of large scale and public metal systems such as custom water cascades and fountains, outdoor monumental furnishings, and public green-walls.
- MunnWorks expects to integrate Element Designs manufacturing into its hospitality case goods and furnishings business utilizing MunnWorks’ domestic 100,000 sq. ft. facility [including its metal fabrication technology] and grow revenues by leveraging its sales, marketing and global distribution network without a meaningful increase in overhead or administrative cost.
- MunnWorks has acquired the continuing future sales “the business” and the related rights, exclusively, by agreeing to pay 10% of net realized revenues arising from this purchase. There is no equity payment or debt assumed in this purchase agreement.
- The Licensor has represented to MunnWorks that the annual revenues since 2017 has ranged between
$3 million and$5 million annually. Given the increase in resources now available to Element Designs from MunnWorks [ such as MunnWorks current national sales organization and its extensive customer base] MunnWorks believes that Element Designs post transaction revenues could significantly increase. - By incorporating and consolidating the new sales and manufacturing within MunnWorks existing overhead and facility, the positive contributing margins will be immediately accretive.
Founded over 10 years ago, Element Designs services commercial and public clients and has been involved with many notable projects, such as the World Trade Center Memorial,
The key product areas MunnWorks and Design Elements plan to collaborate on include the following:
• Water Features (streamlined water and lighting designs, wall and plaza fountains, introduce large scale fountains for interior use, such as was recently installed at
• Monumental Landscape Furnishings (pergolas, privacy screens, and very large outdoor metal
furnishings)
• Preserved Green-walls (Preserved natural foliage set within a moss wall system)
• Outdoor interactive systems for public spaces
“We are thrilled to announce this partnership with Element Designs. For more than 10 years, Element Designs has provided creative, elegant design enhancements for commercial and public properties across the globe. Together we look forward to bringing the same beautiful custom furnishings and exquisite details, while incorporating many of our innovative Smart Building technologies, to elevate outdoor space throughout the
Munn added, “As industry leaders in high-end case goods and furnishings, and a reputation for delivering high-quality products, MunnWorks is strategically positioned to support and grow this business by leveraging our significant manufacturing facility in the
Privately held, Element Design, expects its revenues to grow dramatically in the next three years. For more information about Element Design, please visit https://www.elementdesigns.art
About Applied UV
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For Additional Company Information:
Applied UV Founder, CEO & Director
Max.munn@applieduvinc.com
Investor Relations Contact:
TraDigital IR
+1-646-418-7002
kevin@tradigitalir.com
Source:
2024 GlobeNewswire, Inc., source