Energy Services completes $6.95 million FAMCO asset acquisition

Energy Services of America ($ESOA) has completed its acquisition of substantially all operating assets of FAMCO, a West Virginia contractor specializing in water and sewer infrastructure. Its FAMCO Acquisition subsidiary paid a base price of $6.95 million, subject to contractual adjustments. Consideration comprises cash and Energy Services shares, with part of the price withheld until a post-closing reconciliation is completed.

The purchase adds employees, construction equipment and customer relationships to Energy Services’ existing water and utility operations. These assets broaden its capacity to execute infrastructure projects in markets it already serves. The announcement confirms completion of the previously agreed transaction, while leaving the final adjusted consideration open. It does not provide a separate revenue contribution, earnings forecast or quantified cost savings for the acquired operations.

Sources:

• PR Newswire