EX-99.1 3 ex99-1.htm EX-99.1 Exhibit 99.1 Cemtrex Inc. Hauppauge, NY, July 02, 2026 (GLOBE NEWSWIRE) - Cemtrex, Inc. (Nasdaq: CETX, CETXP) today announced that its Advanced Industrial Services (“AIS”) subsidiary has acquired Plant Engineering Services (“PES”), a Fort Wayne, Indiana-based engineering firm specializing in the design, modernization, and relocation of large hydraulic and mechanical press systems and complex manufacturing equipment. The acquisition adds a full-service engineering capability to AIS’ industrial services platform and extends the Company’s reach into the automotive and defense end markets. The transaction marks a new dimension in AIS’ growth strategy. Since fiscal 2022, AIS has grown from approximately $21 million in annual revenue to approximately $38 million in fiscal 2025 through disciplined execution of complex industrial, infrastructure, and manufacturing work. Earlier this year, AIS expanded geographically with the formation of AIS Tennessee. With PES, the Company is now expanding the platform’s capabilities - adding the engineering expertise that sits upstream of the installation, rigging, and millwrighting services AIS has delivered for over …
Open exhibit ↗Current Report · Items 2.01, 3.02, 8.01, 9.01 · 8-K
Cemtrex Inc.
CETXNASDAQEQUITYCurrent
Completion of Acquisition or Disposition of Assets · Unregistered Sales of Equity Securities · Other Events
Item 2.01 Completion of Acquisition or Disposition of Assets On July 1, 2026, 2026, Cemtrex, Inc. (the “Company”), through its wholly owned subsidiary Advanced Industrial Services (“AIS”), completed the acquisition of substantially all of the assets of Plant Engineering Services, Inc, an Indiana corporation (“PES”) pursuant to an Asset Purchase Agreement dated July 1, 2026 (the “Asset Purchase Agr…
Company context
Current securities
Historical securities (1)
Disclosure sections
Item 2.01Item 2.01 - Completion of Acquisition
Item
2.01 Completion of Acquisition or Disposition of Assets
On
July 1, 2026, 2026, Cemtrex, Inc. (the “Company”), through its wholly owned subsidiary Advanced Industrial Services (“AIS”),
completed the acquisition of substantially all of the assets of Plant Engineering Services, Inc, an Indiana corporation (“PES”)
pursuant to an Asset Purchase Agreement dated July 1, 2026 (the “Asset Purchase Agreement”) by and among AIS Engineering,
Inc., a newly formed wholly owned subsidiary of AIS (“Buyer”), PES, and Mark Bohler, an individual residing in state of Indiana
(“the “Owner” and collectively with the PES, the “Seller Parties”).
As
a result of the transaction, PES’s business operations have been integrated into the Company’s Industrial Services Segment,
and Buyer has become the owner of the acquired assets
The
purchase price for the business assets was $3,500,000, in cash, subject to a customary working capital adjustment, plus the assumption
of certain liabilities. Additionally, the Seller Parties are eligible to receive up to approximately $1,750,000 in contingent earnout
consideration over a three-year period based on the achievement of specified gross profit targets.
The
Agreement has been included to provide investors with information regarding its terms. The representations, warranties, and covenants
contained in the Agreement were made only for the purposes of the Agreement, were made as of specific dates, were made solely for the
benefit of the parties to the Agreement, and may not have been intended to be statements of fact, but rather as a method of allocating
risk and governing the contractual rights and relationships among the parties to the Agreement. In addition, such representations, warranties,
and covenants may have been qualified by certain disclosures not reflected in the text of the Agreement and may apply standards of materiality
and other qualifications and limitations in a way that is different from what may be viewed as material by the Company’s shareholders.
None of the Company’s shareholders or any other third party should rely on the representations, warranties, and covenants, or any
descriptions thereof, as characterizations of the actual state of facts or conditions of the Company, PES, or any of their respective
subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the
date of the Agreement, which subsequent information may or may not be fully reflected in the Company’s public disclosures. The
Agreement should not be read alone, but should instead be read in conjunction with the other information regarding the Company that is
or will be contained in, or incorporated by reference into, the Forms 10-K, Forms 10-Q, Forms 8-K, and other documents that the Company
files or has filed with the SEC.
The
foregoing description of the Asset Purchase Agreement and the transactions is a summary, does not purport to be complete, and is qualified
in its entirety by reference to the full text of the Asset Purchase Agreement copies of which are filed as Exhibit 2.1, to this Current
Report on Form 8-K and are incorporated herein by reference.
Item 3.02Item 3.02 - Unregistered Sales of Equity
Item
3.02 Unregistered Sales of Equity Securities
Since
the effectiveness of the Company’s 1-for-10 reverse stock split on June 5, 2026, the Company has issued approximately 609,000 shares
of its common stock in unregistered transactions. These issuances were made pursuant to private placements and other exempt transactions.
As of July 2, 2026, the Company had approximately 1,721,141 shares of common stock outstanding.
Item 8.01Item 8.01 - Other Events
Item
8.01 Other Events
On
July 2, 2026, the Company issued a press release announcing the completion of the acquisition of PES. A copy of the press release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.