ENERGY SERVICES OF AMERICA COM

HUNTINGTONW Go., May 5, 2022 /PRNewswire/ — Energy Services of America Corporation (the “Company” or “Energy Services”) (Nasdaq: ESOA) has completed the previously announced purchase of Tri-State Paving & Sealcoating, LLC (“Tri-State Paving”) , a West Virginia company located at Hurricane, West Virginia.

As previously reported, Energy Services paid $7.5 million in cash, acquired a $1.0 million Promissory note, and issued $1.0 million in Energy Services Common Stock to acquire Tri-State Paving.

David Corns will continue his role as president of the new subsidiary of Energy Services and commented on the announcement. “This is the special type of business combination where everyone involved wins. Our customers, and especially our employees, will all benefit from the additional resources provided by our integration into the Energy Services family of companies. Over the eighteen years, TSP has built our reputation around safety, quality and customer service. We are a natural fit with Energy Services, and I’m excited to see what the future holds for this new alliance.

Douglas Reynolds, president, commented on the announcement. “We are very pleased to announce the completion of this acquisition. Tri-State Paving is a great business and will be a major factor in the growth of our water utility services, a key strategic initiative for Energy Services. Reynolds continued “We are also very pleased that David Corns agreed to stay with us. David has tremendous knowledge and experience in the industry, and we look forward to working with him.”

About energy services

Energy Services of America Corporation (NASDAQ: ESOA), headquartered in Huntington, West Virginiais an entrepreneur and service company that operates primarily in the Mid-Atlantic and Mid-Atlantic regions. United States and provides services to customers in the natural gas, oil, water, automotive, chemical and power industries. Energy Services regularly employs over 700 people. The core values ​​of the company are safety, quality and production.

Certain statements contained in the press release, including, without limitation, the words “believes”, “anticipates”, “intends”, “expects” or words of similar significance, constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These 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. implied by these forward-looking statements. – look at the statements. These factors include, among others, general economic and business conditions, changes in business strategy or development plans, the effect of the COVID-19 pandemic, the integration of acquired businesses and other factors referenced in this communicated. Given these uncertainties, potential investors are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these 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.

Source: Energy Services of America Corporation

View original content: https://www.prnewswire.com/news-releases/energy-services-of-america-completes-acquisition-301541271.html

SOURCE Energy Services of America Corporation

About Dwight E. McCray

Check Also

Electronic Manufacturing Services Market Size, Scope and Forecast

New Jersey, United States – The Electronics Manufacturing Services Market research report examines the market …