Energy Services of America CORP (ESOA): M&A transaction — Energy Services of America completes $24M acquisition of Tribute Contracting

Energy Services of America CORP

Acquired Tribute Contracting & Consultants for $22M cash plus $2M in ESOA common stock.
Cash funded via $16M loan from United Bank plus company cash; Sellers each received 67,386 shares.
Tribute is an underground utility contractor with ~90 employees focused on water/wastewater in OH, KY, WV.
Sellers Todd Harrah and Tommy Enyart will continue employment with the new subsidiary.
Transaction closed December 2, 2024; subsidiary entity is Tribute Acquisition Company, Inc.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Energy Services of America CORP completed an acquisition involving Tribute Contracting & Consultants, LLC for $22.0 million in cash, subject to a working capital adjustment, and $2.0 million in Energy Services Common Stock (closed 2024-12-02).

Action: acquisition
Counterparty: Tribute Contracting & Consultants, LLC
Consideration: $22.0 million in cash, subject to a working capital adjustment, and $2.0 million in Energy Services Common Stock
Closing: 2024-12-02

Exact text from the filing

a newly formed subsidiary of Energy Services, acquired substantially all the assets (including but not limited to customer contracts, employees and equipment) of Tribute for $22.0 million in cash, subject to a working capital adjustment, and $2.0 million in Energy Services Common Stock (“Stock”). Todd Harrah and Tommy Enyart will continue their employment with the

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Source: SEC EDGAR

accession 0001104659-24-126124

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