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HUNTINGTON, W.Va., April 6, 2022 /PRNewswire/ — Energy Services of America Corporation (the “Company” or “Energy Services”) (NASDAQ:ESOA) formed a newly wholly owned subsidiary Tri-State Paving Acquisition Company, Inc., a West Virginia corporation, which has entered into an Asset Purchase Agreement with Tri-State Paving & Sealcoating, LLC (“Tri-State Paving” or “TSP”), a West Virginia corporation located in Hurricane, West Virginia to acquire substantially all of the assets of Tri-State Paving for $7.5 million in cash, a $1.0 million seller note, and $1.0 million in the Company’s common stock. The Company expects the transaction will close on April 292022.
David Corns will continue his role as President of Energy Services’ new subsidiary 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 becoming part…
Full story available on Benzinga.com
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