- Electrical contractor industry in the U.S. consists of 70,000 electrical firms, 650,000 workers
- ProBility Media sees expansion in skilled building trades with “aggressive push” for infrastructure rebuilding from the new administration
- W Marketing offers reference guides and training DVDs as it advocates education for the electrical and construction industries
When ProBility Media Corp. (OTCQB: PBYA) closed on its acquisition of W Marketing, Inc., which has a vast library of published products, educational courses and exam preparation materials for the electrical industry, it gained a larger share of the educational market for the $130 billion electrical contractor industry in the U.S.
ProBility, based in Houston, is an EdTech company which offers high quality training courses, eLearning opportunities and materials for the skilled trades. Noah Davis, president and CEO of the company, said the acquisition underscores the firm’s commitment to building an international brand in educating, training, and compliance for the skilled trades. ProBility Media is projecting growth in the building trades, due to the new administration’s “aggressive push” for infrastructure rebuilding.
According to the National Electrical Contractors Association (NECA), the industry has 70,000 electrical contracting firms employing more than 650,000 electrical workers (http://dtn.fm/gqJ5Q). They are responsible for lighting, power, communications, and voltage systems for buildings and residential communities.
W Marketing, located in Hauppauge, New York, has numerous reference guides, training DVDs, and CD-ROMs, and it is a strong advocate of learning in the electrical, plumbing, building, and construction industries. It also is the publisher of the ‘Dr. Watts’ series of companion guides for the electrical and construction industries.
Terms of the acquisition, according to a June 2017 SEC 8K filing (http://dtn.fm/ErXU1), indicated that ProBility Media would pay 900,000 shares of restricted common stock, assume a $70,000 outstanding promissory note to Citibank, and pay $75,000 in W Marketing notes owed to W Marketing shareholders. Also included in the purchase terms were earn-out restricted common shares, based on future sales performance, and an employment agreement.
For more information about the company, visit www.ProBilityMedia.com
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