Energy Services of America Corporation (Nasdaq: ESOA) announced on October 1, 2026, that it has entered into an Asset Purchase Agreement with FAMCO, Inc. Under the terms of the agreement, the Company’s newly formed subsidiary, FAMCO Acquisition, Inc., will acquire substantially all of the operating assets of FAMCO.
The base purchase price for the transaction is set at $6.95 million. The payment structure for the acquisition is as follows: three-eighths of the purchase price will be paid in cash at closing, one-half will be paid in Energy Services common stock issued as soon as possible after closing, and the remaining one-eighth will be withheld pending a post-closing true-up.
The Company anticipates the transaction will close on or about October 9, 2026, subject to the satisfaction or waiver of applicable closing conditions. FAMCO is described as an established West Virginia utility contractor focused on water and sewer infrastructure, bringing an experienced workforce, equipment fleet, and customer relationships to Energy Services.
Douglas Reynolds, President of Energy Services, commented on the addition, stating that FAMCO’s people and equipment will complement the Company’s existing operations and strengthen its capabilities in water and utility construction.
