Safe & Green set to acquire Giant Containers to boost modular solutions

MIAMI - Safe & Green Holdings Corp. (NASDAQ: SGBX), a company specializing in modular structures and sustainable infrastructure solutions, has announced its intent to acquire Giant Containers Inc., a company known for its modular, container-based infrastructure. This planned acquisition, which is yet to be finalized, includes taking over Giant’s active projects valued at $6.8 million and appointing Giant’s CEO, Daniel Kroft, as Vice President of Business Development at Safe & Green.

Giant Containers has established itself as a significant player in custom modular shipping container structures, serving a diverse range of sectors and boasting a client roster that includes Tesla, Nike, General Motors, and Yale University. This acquisition comes at a crucial time for SGBX, which has experienced a 70% decline in revenue over the last twelve months to $5 million. InvestingPro analysis reveals 15+ additional insights about SGBX’s financial position and market performance. The acquisition is expected to enhance Safe & Green’s project pipeline, which spans across commercial, residential, and industrial builds in North America, with clients such as Live Nation, Houston Airport, and GCT Deltaport.

Mike McLaren, Chairman and CEO of Safe & Green, emphasized that this move aligns with the company’s mission to transform critical infrastructure with environmentally sustainable and socially responsible solutions. He also noted that Daniel Kroft’s industry experience and leadership are anticipated to be major assets in driving the company’s growth and increasing shareholder value.

The completion of the deal is contingent on several conditions, including satisfactory due diligence, the negotiation and execution of definitive agreements, board and regulatory approvals. The transaction is expected to close by or before June 15, 2025.

Safe & Green Holdings operates with a focus on developing, designing, and fabricating modular structures that fulfill the need for safer and greener solutions across multiple industries. The firm assists both third-party and in-house developers, architects, builders, and owners to achieve more efficient construction and high-value buildings.

This report is based on a press release statement from Safe & Green Holdings Corp. Any forward-looking statements included in the original press release are based on current estimates and assumptions and are subject to risks, uncertainties, and changes in circumstances.

In other recent news, Safe & Green Holdings Corp. has announced the acquisition of oil assets from Sherman Oil Company, adding 1,600 acres of oil wells and leases to its portfolio. The acquisition includes 111 wells, with current production at 45 barrels per day, which the company plans to increase to over 75 barrels per day using its Olenox technology. Additionally, Safe & Green Holdings has secured a new contract with Three Pines Leasing to provide modular units for a U.S. government agency, reflecting its ongoing commitment to sustainable construction methods. In a strategic move, the company appointed technology innovator Samarth Verma to its Board of Directors, following the departure of Shafron Hawkins. Meanwhile, Safe & Green Holdings faces a potential Nasdaq delisting due to shareholder dilution from the issuance of Series B warrants, and the company plans to appeal this decision. On a positive note, the company has secured $108 million in funding, including a $100 million Equity Line of Credit, to support its growth initiatives. These developments align with Safe & Green Holdings’ aggressive strategy, which also includes a merger with New Asia Holdings and acquisitions in the energy sector. The company has regained compliance with Nasdaq’s minimum equity standard, ensuring its continued listing.

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