Midnight Holdings Group Announces Oklahoma Acquisition, Expansion Plans
03 Avril 2007 - 7:09PM
PR Newswire (US)
CLINTON TOWNSHIP, Mich., April 3 /PRNewswire-FirstCall/ -- Midnight
Holdings Group, Inc. (OTC:MHGI) today announced that it has
purchased the assets of the three franchised All Night Auto
operations in Oklahoma and added the three service centers to it's
All Night Auto Stores, Inc. operations. The three facilities are
located in Norman, Warr Acres and Yukon and currently generate
about $2.2 million in annual sales revenues according to Nicholas
Cocco, the CEO of Midnight Holdings Group, Inc. "This is the first
of several acquisitions we plan to complete over the coming years
to grow our operations and meet the objectives of our business
plan." Cocco also announced that Steve Stearman will join Midnight
as the Field Director of Southwest and West Coast operations, where
he will oversee all facility operations in the Southwest and West
and guide development of new operations. "We are very excited to
have Steve join the management of Midnight -he's a great operator
who knows cars, understands our client base, especially the fleet
business and overall he's a terrific asset for the growth of the
company," said Cocco. Stearman has many years of experience in
multiple aspects of the auto service industry including a stint as
a quality engineer for General Motors. "I've been very successful
in building up the All Night Auto brand in this area and I look
forward to adding more All Night Auto stores in Oklahoma City and
Tulsa markets," said Stearman. "I also look forward to driving the
expansion of our brand throughout the entire Western region,
especially Arizona where we have one store now. I can get our
stores up and running very quickly and I like seizing great
opportunities. What I see in the Midnight management team and the
All Night Auto brand is the opportunity for expansion and real
participation in the growth of an organization. I am excited to be
a part of something like this." Rich Bruder, in-house counsel for
Midnight Holdings, said, "Steve will be a major asset in the
continuing improvement of our infrastructure and efficiency. Now
that Steve has joined our team, he can spend more time doing what
he does best - taking care of customer needs. Additionally, his
extensive knowledge at the store level will be used to generate
growth for the company." About All Night Auto All Night Auto
provides all makes/all model concierge service and convenience to
both retail and commercial clients seven days 100-hours per
week--Monday through Thursday from 7 a.m. until midnight, Saturday
and Sundays until 6 pm. All Night Auto's "Automotive Concierge
Service" is designed to meet the demands of today's well educated
and discriminating consumer in the rapidly-changing service
economy. All Night Auto currently operates nine All Night Auto
branded locations in Arizona, Illinois, Michigan and Oklahoma.
About Midnight Holdings Group, Inc. Midnight Holdings Group, Inc.
(OTC:MHGI) is the parent of Midnight Auto Franchise Corp and All
Night Auto Stores, Inc. The subsidiary companies provide management
and distribution services as well as automotive aftermarket
products and concierge services under its flagship "All Night
Auto(R)" and "All Night Lube Express(TM)" brand names. This news
release contains forward-looking statements, including those that
involve known and unknown risks, delays, uncertainties and other
factors not under the control of Midnight Holdings Group, Inc.,
which may cause actual results, performance or achievements of the
Midnight Holdings Group, Inc. to be materially different from the
results, performance or other expectations implied by these
forward-looking statements. These risks and other factors, are
discussed in the Midnight Holdings Group, Inc.'s filings with the
Securities and Exchange Commission such as the 10K, 10Q and 8K
reports. Midnight Holdings Group, Inc. undertakes no obligation to
update any forward- looking statements. CONTACT: Bruce Stockler
(914) 472-0176 DATASOURCE: Midnight Holdings Group, Inc. CONTACT:
Bruce Stockler for Midnight Holdings Group, Inc., +1-914-472-0176,
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