KLX Energy Services acquires Greene's Energy in $30.3M all-stock deal, expects 2023 Adj EBITDA of $18-20M

KLX Energy Services Holdings, Inc.

Total consideration ~2.4M KLXE shares; Greene's shareholders own ~14.7% of fully diluted stock.
Implied enterprise value ~$30.3M based on 30-day VWAP as of March 7, 2023, less $1.7M acquired cash.
Greene's 2022 unaudited results: $68.0M revenue, $5.3M net income, $14.7M Adj EBITDA.
2023 guidance for legacy Greene's: revenue $70-75M, Adj EBITDA $18-20M (inclusive of $2-3M annualized cost synergies).
Expected to be accretive to KLX on all financial metrics and deleveraging.

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