Ecosphere Technologies Hires Investment Bank -- Ladenburg Thalmann
STUART, Fla., June 5, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative U.S. manufacturing company, today announced that it has retained Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE:LTS) to act as its exclusive financial advisor in connection with certain investment banking matters relating to enhancing shareholder value.
As part of its engagement, Ladenburg will assist the Company in identifying and negotiating strategic partnerships, licensing opportunities and mergers and acquisitions. Most recently, Ladenburg advised the Company with the sale of 12% of its ownership interest in Ecosphere Energy Services to Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 company and existing EES member, for $6 million.
David Brooks, Chief Financial Officer of Ecosphere stated, "The Company has been tremendously successful in deploying its patented Ozonix® wastewater treatment technology in the U.S. oil and natural gas industry. As a result, several potential strategic partners have approached the Company. We have engaged Ladenburg to help us assess these opportunities and to advise us as we continue to deploy our Ozonix® technology into new markets."Dennis McGuire, Chairman and Chief Executive Officer of Ecosphere added, "2012 was a record year for Ecosphere and our Ozonix® technology continues to be recognized as a leading water treatment solution for the oil and gas industry. Our recent transaction with Fidelity National Financial, Inc., has allowed us to monetize a portion of our ownership position in our energy subsidiary so that we can continue to focus on manufacturing Ozonix® equipment for Ecosphere Energy Services, as well as a wide variety of industries and applications." CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This press release contains forward-looking statements including deploying the Company's Ozonix® technology in to new markets and monetizing its ownership position in EES. Forward looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.
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