HUNTINGTON, W.Va., Dec. 2, 2024
/PRNewswire/ -- Energy Services of America Corporation (the
"Company" or "Energy Services") (Nasdaq: ESOA) has completed the
previously announced purchase of Tribute Contracting &
Consultants, LLC ("Tribute"), an underground utility contractor
that employs approximately 90 construction workers and primarily
specializes in water and wastewater system installations in
Ohio, Kentucky, and West Virginia.
As previously noted, Energy Services purchased substantially all
of the assets of Tribute for $22
million in cash, less any assumed debt and working capital
adjustments, and $2.0 million of
Energy Services' common stock.
Todd Harrah and Tommy Enyart will continue their employment with
Energy Services' new subsidiary and commented on the announcement,
"We are excited to join forces with Energy Services and look
forward to contributing to the company's continued success."
Douglas Reynolds, President,
commented on the announcement. "We are excited to add Tribute to
the Energy Services team. This acquisition is consistent with our
strategy of buying companies that are familiar to us and further
enhances our presence in the water distribution and wastewater
categories."
About Energy Services
Energy Services of America Corporation (NASDAQ: ESOA),
headquartered in Huntington, WV,
is a contractor and service company that operates primarily in the
mid-Atlantic and Central regions of the
United States and provides services to customers in the
natural gas, petroleum, water distribution, automotive, chemical,
and power industries. Energy Services employs 1,200+ employees on a
regular basis. The Company's core values are safety, quality, and
production.
Certain statements contained in the release including, without
limitation, the words "believes," "anticipates," "intends,"
"expects" or words of similar import, constitute "forward-looking
statements" within the meaning of section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"). Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance, or achievements of the Company to be materially
different from any future results, performance or achievements of
the Company expressed or implied by such forward-looking
statements. Such factors include, among others, general economic
and business conditions, changes in business strategy or
development plans, the integration of acquired business and other
factors referenced in this release. Given these uncertainties,
prospective investors are cautioned not to place undue reliance on
such forward-looking statements. The Company disclaims any
obligation to update any such factors or to publicly announce the
results of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.
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SOURCE Energy Services of America Corporation