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Silverback United, Inc. Closes $14 Million Acquisition of Market Leader in Data Driven Recruitment Software

Transaction accelerates Silverback's growth as the leading technology company monetizing "data as an asset."

MIAMI - August 18, 2022 - (Newswire.com)

Silverback United, Inc. (trading under ML Capital Group, Inc. [OTC:MLCG] pending FINRA approval of name and ticker symbol change) announced the acquisition of UK based Headstart AI, Inc. (headstart.io) in an all-stock transaction. The acquisition will be immediately accretive and will accelerate its strategy for the assetization of data on a global basis. Headstart.io will remain an independent wholly owned subsidiary of Silverback and will continue to be headquartered in London, UK. Spear Point Advisors, LLC ("Spear Point") served as Silverback's exclusive financial advisor for the transaction.

The acquisition is part of Silverback's strategy to build highly valuable, vertically specific data companies that can leverage Silverback's DICE data valuation engine's proprietary technology and data valuation capabilities. Silverback will also pursue an aggressive organic growth strategy at Headstart, with significant opportunities to expand to organizations in the US market. Silverback CEO Ron Bienvenu will serve as the interim CEO of Headstart during this integration period, and Nicholas Shekerdemian, Headstart's Co-Founder and Executive Chairman will be joining Silverback's Board of Directors as Vice Chairman.

Silverback's CEO Ron Bienvenu noted, "We have assembled a veteran team of tech and data industry experts at Silverback aimed at acquiring and integrating data-rich, EBITDA accretive businesses. After reviewing dozens of companies in the human capital industry, it was clear to us that Headstart had the most data-rich technology platform available. Adding Headstart to our existing portfolio of businesses will allow us to leverage our data valuation and monetization platform known as 'DICE' to create additional high-value, recurring revenue streams. Just as importantly, the team at Headstart brings cutting-edge data scientists, programmers and customer success professionals that will enhance our broader team strength. That combination of professional capabilities and services combined with unmatched technology is why companies like Accenture and many others rely on Headstart to ensure their global hiring practices result in the best candidates filling critical roles in the fairest and most equitable way possible."

Nicholas Shekerdemian, Headstart's Executive Chairman, noted, "Over the past six years we have been fanatically focused on bringing innovative technologies and data science capabilities to the human capital industry to ensure fairness and efficiency in global hiring practices. With this transaction, we see two significant drivers for near-term growth and long-term success, namely: Silverback's unique data valuation and monetization capabilities will lead to the delivery of new data-driven products for existing and future customers, and; greater access to the US market and further global expansion of our core platform. What's more, being part of a publicly traded company, we will now have access to alternative capital formation strategies and M&A driven growth opportunities. As the world faces uncertain economic times, we believe this combination of our case-studied history of creating greater equity and fairness through our platform for some of the world's most notable companies, and Silverback's ability to access capital markets will present unique opportunities to consolidate the human capital market and build significant scale and innovation." Mr. Shekerdemian will immediately serve as a strategic advisor to Silverback in his executive role on the Board of Directors of Silverback. 

About Silverback:

Silverback United Inc. is the leader in the rapidly emerging industry of treating data as an asset. This new asset class will have a global impact on balance sheets and income statements in the near term, and usher in new financial options leveraging the value of data and increasing overall corporate valuations. As the market continues to evolve, there will be unprecedented opportunities to create significant amounts of high-margin, recurring revenue streams that will result in margin expansion and higher profitability across the economy. Silverback and its subsidiaries are uniquely positioned to dominate the industry.

About Headstart:

Headstart uses data science and machine learning to help organizations recruit equitably and more efficiently. The platform is designed to understand potential not pedigree, by automatically amalgamating skills, experience, education and social background, and leveraging years of training to go beneath the keywords on a resume. Since launching in 2016, Headstart has disrupted the recruitment industry with the idea that 'people are more than a piece of paper'. With eight Diversity & Inclusion awards and major Fortune 500 companies like Accenture using their system at scale, Headstart has a deep track record of improving candidates' recruitment experience worldwide.

About Spear Point:

Spear Point Advisors, LLC is a deep value investor specializing in special situations. 

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and which are based on Silverback's management's beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including but not limited to statements regarding the potential benefits of the acquisition; Silverback's ability to develop and commercialize its proprietary technology for data monetization; Silverback's planned research and development efforts; and, other matters regarding Silverback's business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. In some cases, you can identify forward-looking statements by the words "may", "will", "could", "would", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "project", "potential", "continue", "ongoing", or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. 

These forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, without limitation, Silverback's ability to achieve the anticipated benefits of the acquisition; the severity and duration of the current COVID-19 pandemic on our operations, customers and suppliers, as well as related actions taken by governmental authorities and other third parties in response, each of which is uncertain, rapidly changing and difficult to predict; issues related to acquisitions, divestitures, joint ventures or expansions; competitive and pricing factors; demand for our products; relationships with key customers; domestic and international economic and political conditions, including new legislation, policies or other governmental actions in the U.S. or elsewhere; industry and economic conditions that affect the market and operating conditions of our customers, suppliers or lenders; climate change, weather conditions and storm activity; uninsured losses, including those from natural disasters, pandemics, catastrophe, theft or sabotage; legal and regulatory proceedings, including litigation and environmental actions; changes to tariff, trade or investment policies or laws; research and development activities and intellectual property protection; issues involving implementation and protection of information technology systems; achievement of expected synergies, cost reductions and/or productivity improvements; the level of fixed costs required to run our business; foreign exchange and commodity price fluctuations; our level of indebtedness; our liquidity and the availability and cost of credit; levels of goodwill or other indefinite-lived intangible assets; loss of key employees; and, factors detailed from time to time in the company's filings with OTC Markets. The information in this news release speaks as of August 18, 2022, and is subject to change. The Company does not undertake any duty to update or revise forward-looking statements except as required by federal securities laws. Any distribution of this news release after that date is not intended and should not be construed as updating or confirming such information.

Investor Relations Contact:

Lauren Nelsen
Director of Marketing + Communications
985.688.6132
[email protected]




Press Release Service by Newswire.com

Original Source: Silverback United, Inc. Closes $14 Million Acquisition of Market Leader in Data Driven Recruitment Software

Inauguration of a Second Electrification Site in Montreal for ProEV

A major investment in the energy transition ProEV Logo MONTRÉAL - August 18, 2022 ...

Inauguration D’un Deuxième Site D’électrification À Montréal Pour ProEV

Un investissement majeur dans la transition énergétique

MONTRÉAL - August 18, 2022 - (Newswire.com)

Alors que les alternatives aux énergies fossiles prennent de plus en plus de place dans le secteur des transports, ProEV, une entreprise fondée au Québec, division de la société américaine Electrical Components International (ECI), est fière d'inaugurer le plus grand site d'électrification dédié à l'ingénierie et à la fabrication de véhicules électriques commerciaux et industriels en Amérique du Nord. Ce site devient la 38e installation d'ECI à l'échelle mondiale, lui permettant de desservir ses plus de 500 clients
internationaux, grâce à ses 25 000 employés.

L'inauguration de ce nouveau site sur le chemin de la Côte-de-Liesse, est jumelée à l'annonce d'un investissement de 10 millions de dollars sur 5 ans qui permettra de soutenir des installations de la plus haute qualité dans un bâtiment complètement remis à neuf. Celui-ci comptera d'ailleurs un département d'innovation afin d'optimiser les processus manufacturiers et augmenter l'impact des technologies existantes.

Cette ouverture renforce le caractère du Grand Montréal comme pôle majeur en Amérique du Nord pour l'électrification des transports, particulièrement en ce qui a trait aux véhicules commerciaux et industriels. Au service des constructeurs de grandes marques, ProEV
démontre que la chaîne d'approvisionnement est également à la source d'innovations, d'investissements et de création d'emplois. Les fabricants d'équipement d'origine peuvent compter sur l'expertise montréalaise pour la construction de leurs véhicules électriques
commerciaux et industriels.

Dans le cadre de son implantation au Québec, ProEV a bénéficié du soutien et des conseils d'organismes de développement économique, tel que Montréal International et Investissement Québec International.

250 emplois qualifiés
Fière de soutenir le développement économique du Grand Montréal, ProEV créera 250 emplois qualifiés grâce à ces nouvelles installations. Parmi les professionnels recherchés, on compte des techniciens de fabrication, des ingénieurs, des gestionnaires de projets et surtout des développeurs, permettant de mettre sur pied une vaste expertise au sein de l'établissement.

ProEV a toujours été un partenaire de la transition énergétique; avec ce deuxième centre d'électrification, l'entreprise pousse son engagement encore plus loin pour des transports plus verts et sans GES.

Citations
« L'ouverture de ce deuxième centre d'électrification prouve que la croissance économique peut se faire de manière verte et soutenable pour l'environnement. Nous sommes fiers du chemin parcouru depuis 35 ans et excités de voir jusqu'où nous pouvons amener l'industrie! »
-Jarred Knecht, président, ProEV

« L'ouverture de notre nouveau site de production permettra à ProEV et ECI de se positionner comme le fournisseur d'harnais haute tension de choix pour les secteurs des véhicules électriques commerciaux et industriels, un domaine à forte valeur ajoutée et à forte croissance. À la fine pointe de la technologie, ce centre d'électrification est l'endroit où l'expertise et les innovations qu'apporte notre équipe aideront les manufacturiers à répondre à la demande croissante pour toutes leurs plateformes de véhicules ».
- Mike Balsei, président-directeur général, Electrical Components International

« Le Grand Montréal a tous les atouts pour développer une économie plus verte et durable. Appuyé par ses partenaires, Montréal International est là pour soutenir cette transition, avec une équipe dédiée aux entreprises étrangères qui veulent réduire leur impact sur l'environnement tout en restant compétitives et innovantes. Avec des investissements comme celui de ProEV en transport électrique, on se donne collectivement les moyens de faire avancer la lutte aux changements climatiques et la mobilité urbaine. Et ce n'est qu'un début! »
-Stéphane Paquet, président-directeur général, Montréal International

À propos de ProEV
ProEV, une division de Electrical Components International (ECI), est un centre d'excellence pour les véhicules électriques de ECI. L'entreprise est au service des acteurs mondiaux en véhicules électriques au niveau du développement et la fabrication de leurs plates-formes de véhicules. Fondée en 1953, Electrical Components International est l'un des principaux fournisseurs mondiaux de systèmes de distribution électrique, d'assemblages de boîtiers de commande et d'autres composants d'ingénierie critiques pour des marchés diversifiés. Avec 25 000 employés et 37 sites de fabrication dans le monde, ECI crée des solutions intelligentes, connectées et électrifiées qui permettent aux technologies les plus avancées de résoudre les défis les plus complexes. Pour en savoir plus sur ProEV, visitez https://proelectricvehicle.com.

Pour tout renseignement
Vincent DespinsTACT
Cellulaire: 418 655-2424
[email protected]




Press Release Service by Newswire.com

Original Source: Inauguration D'un Deuxième Site D'électrification À Montréal Pour ProEV

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