Diversified Energy company, American Energy Partners (OTCMKTS:AEPT), on September 17, 2021, announced the acquisition of a second privately held energy services company having operations in the Appalachian Basin. American Energy Partners is focused on giving transportation, facility maintenance, logistics, and environmental services as well as transportation to the energy and industrial sectors.
The acquisition will augment the company’s 2022 annualized revenue by about six to twelve million dollars with a forecasted operating income of two million dollars. In addition, it would also increase the workforce to more than 100 employees.
Funded through a mix of cash, debt, as well as common stock, having lower than one percent dilution to current shareholders,
American Energy will be paying potential contingent consideration depending on the achievement of specific EBITDA growth targets in the next three years.
The firm’s CEO, Brad Domitrovitschexpressed contentment on the quick realisation of the deal and its overlap with the current operations, ensuring diversification of the portfolio of companies and growth in revenue bringing shareholder value.
Brad added that it is a good time for the company’s growth story as, over time, the firm has built an amazing team, with the support of robust leadership. American Energy expects the transaction to be completed by the first week of January 2022.