SMG Industries, Inc. (OTCQB: SMGI) was formed under the laws of the State of Delaware on January 7, 2008. The Company went public via an IPO in 2008 and used the proceeds under its initial business plan to stockpile indium - a specialty metal used in cell phones. The plan worked, and by 2015 the Company sold its stockpile and distributed most all of the proceeds to its stockholders in the form of special dividends, share repurchases and buy backs.
A New Oilfield Services Platform.
In 2017, a new platform of growth was established focusing on the domestic oilfield services market. In September 2017, a new management team was hired and the first of several oilfield services businesses and product lines was acquired.
The business strategy of a “buy and build” approach was established. The Company seeks to acquire owner/operated oilfield services businesses, located in the Southwest United States, benefiting from the increased activity in unconventional oil and gas plays. SMGI looks for service company owners with great reputations in the marketplace and offers a compelling partnership concept. The Company believes removing growth-constraints, providing equipment and working capital for growth, taking over the back office systems and administrative controls allows the combined company to generate results.
Today the Company’s publicly stated buy and build acquisition strategy orients around the building of a diversified company that has exposure to the Drilling, Completion, Production and Midstream market segments of the business.
The Company’s headquarters are located in Houston, Texas with facilities in Odessa, Carthage, Alice, Palestine, and Waskom Texas. The Company’s common shares trade on the OTCQB® Market under the trading symbol SMGI.