Energy Services of America Corporation agreed to pay a base purchase price of $6.95 million to acquire substantially all of the operating assets of FAMCO, Inc. The company disclosed the Asset Purchase Agreement in an 8-K filing on October 1, 2026.
Under the terms of the deal, Energy Services' new subsidiary, FAMCO Acquisition, Inc., will assume ownership of FAMCO's assets. The transaction structure splits the base purchase price into three distinct payment components. Three-eighths of the total value will be paid in cash at closing. One-half of the purchase price will be settled with Energy Services common stock, which the company plans to issue as soon as possible after the deal closes. The remaining one-eighth is withheld pending a post-closing true-up process.
Energy Services currently anticipates the transaction will close on or about October 9, 2026. This timeline is subject to the satisfaction or waiver of applicable closing conditions and other circumstances that may affect the timing.
FAMCO operates as a West Virginia utility contractor with a primary focus on water and sewer infrastructure. The company maintains an experienced workforce, an equipment fleet, established customer relationships, and a contract backlog in that sector. Energy Services stated that the acquisition is expected to complement its existing water and utility construction operations.
Douglas Reynolds, President of Energy Services, commented on the announcement by noting that FAMCO brings experienced people, equipment, and customer relationships that strengthen the company's capabilities in water and utility construction.
Energy Services of America Corporation is headquartered in Huntington, WV, and operates primarily in the mid-Atlantic and Central regions of the United States. The firm serves clients across sectors including natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs more than 1,400 employees on a regular basis. The company's core values are listed as safety, quality, and production.
Steven Hooser of Three Part Advisors, LLC serves as the investor relations contact for the company.