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AAP, Inc. (OTC Pink: AAPJ). A company providing solutions in the credit industry just announced a 50/50 partnership with north star developers, LLC. But who are they?
AAP, Inc (OTC Pink: AAPJ) is a provider of solutions in the credit industry. Their business model is to acquire delinquent debt through but not limited to third-parties and providers in the debtor-creditor industry as a debt purchaser or a reseller.
Their company was rebirthed last year with the introduction of their new CEO Paul Bakajin. After successfully moving the company’s location from Delaware to Wyoming. And taking the company from (stop sign) to being current on otcmarkets.com. While going through a pandemic shows promise.
Mr. Bakajin, CEO of AAP, Inc stated, ” I am very excited and grateful to be working with a group of experienced professionals with a long history in the credit industry, providing us with this opportunity to take the company in a much more profitable direction. With their support we will have the unique ability to obtain delinquent debt at a very generous discount, therefore providing us with excellent profit margin.“
To visualize the achievements and grasp a better perspective of the company we listed a few milestones of AAP, Inc:
Delinquent debt
Late January 2021, AAP, Inc signed an agreement to acquire $18,8 million in delinquent debt from one of their vendors with a cost of 2.67% of the total purchase and hoping to recover 10% of the total amount.
Acquisition Redtail
Mid-July, 2021, AAP, Inc entered a definitive agreement to acquire an 18 percent stake in Redtail, LLC, a privately-held construction company, for $1.5 million in cash. (AAP, Inc., has the option to acquire the remaining 82 percent of Redtail.)
Mr. Bakajin commented, “This investment in Redtail, LLC will provide us with a presence in an emerging growth industry in a financially and operationally prudent way. I have always viewed AAP, Inc, being a business leader in an attractive growth category for us to expand our presence beyond just one business model. This transaction gives us the opportunity to do that with a business partnership with Redtail, LLC. Redtail, LLC has a first-rate management team with a combined 40 years of experience within the construction industry, talented employees and a mission, values and commitment to innovation that are very closely aligned with our own, and we are excited to move forward with them.”
The two companies will work together to pursue revenue-generating and cost-saving opportunities to improve operational efficiency. As was said, For AAP, Inc. leveraging their portfolios of strong businesses will enhance their financial position and increase shareholder value.
Acquisition North Star Developers (Latest news)
In late July, AAP, Inc entered into an agreement to organize a 50/50 partnership with North Star Developers, LLC.
The purpose of the acquisition was:
- Development
- engineering and construction of: residential, commercial real estate and any related services provided to the general public
Mr. Bakajin stated: “This new partnership is a much-welcomed addition to our growing portfolio of diverse businesses and enhances our prospects for achieving our current goals. So far this year, we have added two new businesses which, I believe, will significantly add to our growth and financial strength. It is my goal to provide the company with solid business opportunities with attractive growth potential. I want to keep on adding and building the company as we move toward a great future.
The Company’s portfolio of businesses keeps growing: debt collection, infrastructure construction, and now, with North Star Developers, real estate acquisition and development. My team and I are driven to build a company with strong revenue and lines of business that will provide financial strength and responsible but aggressive growth. A lot of progress has been made since I became CEO of the company and we have only just begun. Coming soon will be a redesigned company website, and we have many company updates in the works.”
Throughout 2020 and 2021, AAPJ has shown much promise and even through hard times, they managed to make things work. While continuing their spree of acquisitions it will be likely for the company to grow rapidly and to show successful numbers throughout the upcoming year.
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