Refinery Ventures Executes Letter of Intent to Acquire Laconic Enterprises
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Matthew Bassett, CEO and chairman of Bassett Financial Corporation, the financial advisor for Refinery Ventures Corporation, has executed a letter of intent to acquire all of the issued and outstanding shares of Laconic Enterprises. Refinery Ventures Corporation will change its name to Laconic Enterprises and the management team of Laconic and its board of directors will assume control of the company.
“This transaction will provide Laconic with the ability to effectively tap global capital markets to fuel the firm’s growth – we are excited to have the opportunity to supercharge our growth curve and become a truly global enterprise,” said Phil Kenny, CEO of Laconic Enterprises.
Laconic Enterprises leverages its unparalleled project delivery expertise, global technology sourcing capabilities and integrated finance platform to deliver projects such as crude oil distillation units, large-scale energy efficiency upgrades, and energy storage facilities. Laconic delivers the appropriate project on a turn-key basis with zero capital expenditure on the part of the client.
Bassett Financial Corporation has facilitated a $120 million LOC following the company’s acquisition of Laconic Enterprises and Refinery Ventures Corporation public offering. This acquisition is the first stage of a strategic acquisition pipeline that has been formulated in tandem by Bassett Financial Corporation and Laconic Enterprises.
“This transaction facilitates Laconic’s long-term strategic plan by providing a solid foundation of transparency and regulatory compliance upon which to build out integrated project delivery teams to service clients across the globe,” said Andrew Gilmour, COO of Laconic Enterprises.
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