Energy Services of America Completes Acquisition of WV Pipeline


Energy Services of America Corporation (OTC QB: ESOA) has completed the previously announced purchase of WV Pipeline, Inc. "WV Pipeline", a West Virginia corporation located in Princeton, West Virginia.

As previously noted, Energy Services paid $3.5 million in cash and acquired a $3.0 million seller note with a term of five years with an interest rate of 3.25%. Previous WV Pipeline owners, David Bolton and Daniel Bolton, will continue their roles as President and Vice President, respectively, of Energy Services' new subsidiary.

Douglas Reynolds, President, commented on the announcement. "We are excited to close on our first acquisition since 2008 and would like to welcome the capable and hardworking team at WV Pipeline to the Energy Services family." Reynolds continued "Energy Services is focused on enhancing our capability to serve natural gas and water utilities and WV Pipeline compliments our organic initiatives to better address this growing market."

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.