Huntington, W.Va. – October 01, 2026 -- Energy Services of America Corporation (Nasdaq: ESOA) will acquire substantially all operating assets of FAMCO, Inc., a West Virginia water and sewer infrastructure contractor, for a base purchase price of $6.95 million.
Energy Services structures deal with mixed cash-and-stock payment
Under the Asset Purchase Agreement, three-eighths of the purchase price will be paid in cash at closing, while one-half will be issued in Energy Services common stock shortly after the transaction closes. The remaining one-eighth will be withheld pending a post-closing true-up.
New subsidiary FAMCO Acquisition will absorb West Virginia contractor's operations
Energy Services formed FAMCO Acquisition, Inc. to execute the purchase, which covers FAMCO's workforce, equipment fleet, customer relationships and existing contract backlog in water and sewer infrastructure. The company expects the transaction to close on or about October 9, 2026, subject to standard closing conditions.
Acquisition expands Energy Services' water and utility construction footprint
Energy Services operates primarily across the mid-Atlantic and Central U.S., serving natural gas, petroleum, water distribution, automotive, chemical and power industries with more than 1,400 employees. President Douglas Reynolds said FAMCO "brings experienced people, equipment and customer relationships that complement our existing operations and further strengthen our capabilities in water and utility construction."