Energy Services of America Corporation has completed the acquisition of Tribute Contracting & Consultants, LLC, an underground utility contractor based in Ohio. The purchase, made by Energy Services’ new subsidiary, Tribute Acquisition Company, Inc., involved a $22.0 million cash payment and $2.0 million in common stock. The cash portion was funded partly by a $16.0 million loan from United Bank, West Virginia. Todd Harrah and Tommy Enyart, the sellers from Tribute, will continue their employment with the new subsidiary and received 67,386 shares of stock each.
People: - Todd Harrah - Tommy Enyart - Charles Crimmel
Entities: - Energy Services of America Corporation - Tribute Contracting & Consultants, LLC - Tribute Acquisition Company, Inc. - United Bank, West Virginia