#United States #Infrastructure #Energy Services #Huntington #FAMCO

Energy Services of America Completes Strategic Acquisition of FAMCO

In a significant move aimed at bolstering its operational capabilities, Energy Services of America Corporation (NASDAQ: ESOA) has announced the successful completion of the acquisition of FAMCO, Inc., a West Virginia-based utility contractor specializing in water and sewer infrastructure. The transaction was finalized on October 23, 2026, with a base purchase price established at approximately $6.95 million.

This acquisition not only marks a critical milestone for Energy Services but also highlights its commitment to expanding its footprint in the utility sector. The purchase was executed through Energy Services’ subsidiary, FAMCO Acquisition, Inc. The deal entails a combination of cash and Energy Services common stock as part of the payment structure, with a portion of the purchase price retained pending adjustments following the closing.

Douglas Reynolds, President of Energy Services, expressed enthusiasm about the acquisition, stating, "FAMCO is a vital addition to the Energy Services team, as it brings a wealth of experience, an established equipment fleet, and strong customer relationships. This is a strategic enhancement for our existing water and utility construction operations, allowing us to significantly expand our capabilities in these important markets."

Strengthening Utility Operations

FAMCO's reputation as a dedicated contractor in the water and sewer infrastructure arena aligns seamlessly with Energy Services' current operations. The acquired workforce is equipped with extensive expertise and knowledge, which will undoubtedly contribute to the overall growth and efficiency of Energy Services as it seeks to fulfill a wider array of client needs.

Key Benefits of the Acquisition

• - Expanding Workforce: FAMCO’s experienced personnel will directly enhance the overall skill set within Energy Services, enabling more effective project execution.
• - Broader Equipment Fleet: The addition of FAMCO’s equipment expands Energy Services’ operational capabilities, making it better equipped to handle a diverse range of utility projects.
• - Enhanced Customer Relationships: FAMCO’s established customer connections will allow Energy Services to strengthen its outreach in the utility market and foster new business opportunities.

The acquisition complements Energy Services' existing service offerings in areas such as natural gas, petroleum, automotive, chemical, and power industries. With more than 1,400 employees committed to safety, quality, and production, the company is well-poised for this strategic integration.

Forward-Looking Statements

As with any acquisition, the deal is not without its uncertainties. Certain statements regarding expectations of future performance may be considered forward-looking statements. Energy Services of America acknowledges the inherent risks and uncertainties in making predictions that may significantly differ from actual future results. This includes economic conditions, business strategies, and the complexities involved in integrating acquired operations into existing structures.

Conclusion

Energy Services of America Corporation’s acquisition of FAMCO represents a pivotal step in enhancing its operational scope and improving service delivery within the utility sector. With this strategic enhancement, Energy Services is better equipped to meet the needs of its customers while continuing to prioritize safety and development within the industry. The company’s ongoing commitment to excellence is evident as it embarks on this promising chapter of growth and expansion.