NEW YORK & MALAYSIA – It was announced today that private equity firm FGA Partners “FGA” and Electro-Spec Industries have signed a Partnership Agreement under which FGA has agreed to set up a strategic partnership with Electro-Spec via FGA’s subsidiary Megahoot, LLC and acquire an equal interest in the company. Following the completion of the transaction Electro-Spec and Megahoot will collaborate in the components area for building system components and sanitary products for Spartan Modular Technologies initially.
This is a significant partnership in that region for Mega as it not only positions Spartan Modular Technologies for global growth beyond modular construction and smart buildings but also allows for the partnership to enter into many other industries to service original equipment manufacturers “OEM’s” of all types.
Electro-Spec Industries is an innovative die casting manufacturing company that is well positioned to develop its component manufacturing division that would allow the partnership to begin to enter into the automotive, aviation, medical equipment and sanitary components arenas. Through Spartan Modular Technologies there will be an immediate use of certain products that will bring value to both the partnership and the real estate developers that use Spartan’s modular building systems and sanitary products such as faucets, sinks, bathtubs and other related component parts.
The goal is to bring Electro-Spec to the level of becoming a Tier 1 manufacturer that will be able to directly provide end to end service for the automotive, aviation and medical equipment industries more affordably without sacrificing quality. Tier 1 companies offer the most advanced processes within the manufacturers supply chain; this is typically the final step before any component reaches the original equipment manufacturer “OEM” for completion of the end product or for distribution to the end users. Tier 1 vendors deal directly with the OEM and eliminate the middle man process for them, such vendors have been proven to be reliable, timely and adhere to the strict safety and standard procedures in place.
Not only is the outsourcing of component manufacturing by an OEM critical for their continued growth as it reduces their overhead, capital expenditures, infrastructure costs, labor and equipment costs but the pricing being more affordable and of the highest quality can trickle down to the end consumer pricing being lower, giving OEM’s working with Electro-Spec a competitive advantage globally.
“Electro-Spec has been stellar during this process and we look forward to the growth initiative that will be taking place. Having the ability to bring quality component and sanitary products to the OEM’s and the general public at affordable pricing is exciting, we look forward to strong growth in many industries over the next 24 months, as well as creating products directly for Spartan Modular Technologies builds,” stated Louis Velazquez, CEO of Megahoot.
Some examples of OEM’s are General Motors, Ford, Tesla, Lockheed Martin, Bombardier, Honda Automotive, Honda Aircraft, Boeing, Fiat-Chrysler, Johnson & Johnson, Medtronic and Baxter International. Some examples of large Tier 1 OEM manufacturing companies that supply OEM’s include Denso Corp, Continental AG, Johnson Controls, Hyundai Mobis, Yazaki Corp and Magna International. There is tremendous room for growth in the automotive, aerospace and medical industries as it relates to component manufacturing, which the partnership will be in the position to capture.
The ability to service OEM’s in various industries to their standards while providing very competitive pricing which will allow the partnership to grow and thrive, taking full advantage of the opportunities ahead of it. With a bill in the United States potentially going into effect that will bring over US$19 billion in relief and reconstruction building with approximately US$3 billion designated to expedite repairs and construction of flood and hurricane protection projects that are slated to be undertaken by the Army Corps of Engineers and over US$5.2 billion in estimated cost to rebuild the Naval Air Weapons Station China Lake after it was hit by two earthquakes will create many opportunities for Spartan Modular Technologies and increase the revenue stream for both companies.
About Megahoot LLC
Megahoot is a Technology Company focused on secure private collaboration platforms for business and personal use, incorporating ephemeral messaging, high security, use of cryptography and secure mobility. Products include the Megahoot Vault which is a digital vault for highly secure holding of various cryptocurrencies, loyalty tokens and soon digital documents. With the use of blockchain technology Megahoot will be venturing into various industries from smart homes to health care and more utilizing its blockchain technology platform that will allow corporations globally to create dedicated blockchain networks for their businesses for everything from accounting, logistics, supply chain management, security, education and much more. Megahoot LLC is a wholly owned subsidiary of FGA Partners.
For more information on Megahoot please go to www.megahoot.com.
About Electro-Spec Industries
Electro-Spec Industries is a die casting manufacturing company that is expanding into the components manufacturing arena to service various industries. Currently the company is an asset to its global clientele as they develop solutions for their most complex product issues that they face. The company is proficient in the zinc die casting of lock components, appliance handles, sanitary ware, connectors, functional and decorative parts and more. From surface finishing to painting, powder costing, nickel plating and chrome plating, the clientele have end to end service options..
About Spartan Modular Technologies
Spartan Modular Technologies is a technology company that is revolutionizing how construction is done today via next generation modular construction. Spartan is in the business of manufacturing smart technology modular builds for both residential and commercial purposes, these builds incorporate green technology to achieve Net Zero Standards as well as other next generation smart technology. This smart technology will be also be used for next generation Command Center builds, stand alone educational units and more. The Spartan panelized smart technology system will be used in the renovation within hotels, office buildings, hospitals and medical offices. Spartan via their parent company FGA Partners (Falcon Global Acquisitions), works closely with developers, governments and land owners in the development of affordable, middle market and high end modular homes. As well as both small and large scale commercial projects all incorporating innovative smart technology modular construction. This is both domestically and internationally.
For more information please go to www.spartanmodular.com
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