(Source: PrimeNewswire)

SCOTTSDALE, Ariz., Oct. 5, 2009 (GLOBE NEWSWIRE) -- EGPI Firecreek, Inc. (OTCBB:EFIR) announced today the signing of a letter of intent to acquire a privately owned signalization, intelligent traffic systems and lighting company (the "Company") based in Florida and servicing the southeast United States.
The Company is engaged in all facets of the DOT construction industry. Over the last 9 years they have created and managed an experienced group of office and field personnel that specialize in the expertise of Signalization, Lighting, Signing and Intelligent Traffic Systems. The Company has also worked with many large retailers i.e., Walmart, Lowes and Home Depot, in addition to several Private Developers, as well as City, County and State funded DOT projects.
This acquisition meets with EGPI Firecreek, Inc.'s strategic plans and objectives for building vertical growth and diversified revenue streams through the acquisition of similar companies that are related in the deployment and sales of Intelligent Traffic Systems throughout the Southeastern parts of the United States. The Company, who has been in business since 2000 with several offices staffing approximately 50 employees, has created its market share of business throughout this geographical region, and last year reported over $14 million in annual revenues.
SATCO Acquisition Update
As previously reported, EGPI Firecreek, Inc. announced the signing of a binding Letter of Intent to acquire South Atlantic Traffic Corporation. To date, EGPI Firecreek, Inc. is pleased to announce that all due diligence phases have been completed, and is expecting the final completion of SATCO's audited financials within the next 30 days, in order to move into a Definitive Agreement and finalize the acquisition. SATCO, who has been in business since 2001 and has several offices throughout the Southeastern United States, reported nearly $15 million in annual revenues for 2008. SATCO's products range from traffic signal equipment, traffic and light poles, and data/video systems for ITS surveillance systems.
Dennis Alexander, Chairman and CEO of EGPI Firecreek, Inc., stated, "This is a very exciting time for EGPI Firecreek, Inc. and its M3 subsidiary. Whereas many businesses have had to consolidate and cut their revenue base, we have strategically placed ourselves in a position where we now have the potential and ability to show exponential growth, strong revenue streams and diversification in the marketplace.