EIFZF - Exchange Income buys Crew Training International for $45 million

Crew Training International ('CTI') develops and delivers training solutions for the U.S. government and commercial applications. CTI’s primary customer is the U.S. Department of Defense, including the U.S. Air Force, the U.S. Navy, and the U.S. Marine Corps. The purchase price comprises $7M in stock and $38M in cash. Mike Pyle, CEO of Exchange Income (OTCPK:EIFZF): “CTI is a market leader with superior management and a well-developed company culture making it an ideal company to join EIC. There is high demand for aviation training and we are eager to grow in this field. CTI’s leading capabilities, reputation, and presence in the US market, which have been developed over the last three decades, make this a very exciting acquisition. This transaction is accretive for our shareholders, and I am very pleased Alan and his executive team will continue leading this terrific business.”

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Exchange Income buys Crew Training International for $45 million