American Energy Partners, Inc. sign an agreement to acquire Energy service company.
July 18, 2021
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American Energy Partners, Inc. (OTCPK:AEPT) signed an agreement to acquire Unlimited Energy Services, LLC on July 19, 2021. 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. The Acquisition is expected to increase American Energy’s annualized revenue by over three (3) million dollars. The transaction is expected to close on October 1, 2021, subject to customary closing conditions. Transaction shows commitment to company growth and increasing shareholder value.
American Environmental Partners, Inc., formerly American Energy Partners, Inc., is a conglomerate holding company. The Company is engaged in the acquisition and growth of environmental services. Its subsidiaries include Unlimited Energy Services, LLC, Austin Master Services, Apex Energy Services, and Hydration Company of Pennsylvania, LLC. Unlimited Energy Services, LLC is an energy service company that focuses on reducing the environmental footprint of energy assets through the operations and the decommissioning and reclamation of oil and gas wells. Austin Master Services is a comprehensive environmental services company specializing in radioactive and mixed waste management solutions. Apex Energy Services provides well-site environmental services to upstream energy companies in Western Pennsylvania, Eastern Ohio, and Northern West Virginia. Hydration Company of Pennsylvania, LLC is engaged in the businesses of water exploration and water augmentation.