September 9, 2008

Titan Energy Signs Agreement to Acquire RB Grove

Titan Energy Worldwide, a manufacturer of energy generation products and services, has signed a definitive agreement to acquire RB Grove, a provider of power generation equipment and services in southern Florida, US.

Combined with the previously announced agreement to acquire CJ's sales and service operation in northern Florida, this new agreement gives Titan Energy a sales and service territory covering the state of Florida, and extending into the Caribbean.

John Tastad, CEO of Titan Energy Worldwide, said: "Together with our agreement to acquire CJ's Sales and Service, this completes the first stage in our strategy to build a national footprint for Titan Energy. Together, these transactions effectively more than double the revenue base of Titan Energy Worldwide, helping us achieve our target of $30 million in sales next year."