American Energy Signs Agreement to Acquire Second Appalachian Basin

Source: www.gulfoilandgas.com 9/17/2021, Location: North America

American Energy Partners, Inc. (“American Energy”), a diversified energy company, is pleased to announce it has agreed to acquire (the “Acquisition”) a second privately held energy services company (“Company”) operating in the Appalachian Basin. The Company focuses on providing facility maintenance, transportation, logistics and environmental services to the energy and industrial sectors.

The Acquisition is anticipated to increase American Energy’s 2022 annualized revenue by six (6) million dollars to over twelve (12) million dollars with forecasted operating income of two (2) million dollars. The acquisition would increase American Energy’s workforce to over 100 employees.

Total consideration for the Acquisition will be funded through a combination of cash, assumption of debt and common stock with less than one percent dilution to current shareholders. American Energy is to pay potential contingent consideration based on the achievement of specific EBITDA growth targets of the Company over the next three years.

American Energy’s CEO Brad Domitrovitsch stated, “We are extremely pleased with how fast this deal evolved and the overlap it has with our current operations, thus further diversifying our portfolio of companies and growing our revenue base to bring shareholder value. It is truly an exciting time to be a part of the growth story at American Energy. Over time we have built an incredible team and none of this could have been possible without such strong leadership.”

The transaction is expected to close the first week of January 2022, subject to customary closing conditions.


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