American Energy Announces the Acquisition of Austin Master Services
American Energy Partners, Inc. (OTC: AEPT) has acquired Austin Master Services, LLC, effective July 1, 2022. This acquisition, whose financial details were not disclosed, is expected to be immediately accretive to earnings and boost annualized revenue to over $25 million. Austin Master Services specializes in environmental services, including radiological waste management and decommissioning. The acquisition will enhance American Energy’s portfolio of ESG-related services and expand its operational capabilities. Key executives from both companies expressed optimism about the combined potential.
- Acquisition of Austin Master Services expected to increase annualized revenue to over $25 million.
- Immediate accretion to earnings from the acquisition.
- Expansion of service lines in environmental services, particularly in radiological waste management.
- Strengthening of the portfolio of ESG-related services.
- None.
CANONSBURG, PA, July 01, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Energy Partners, Inc. (“American Energy”) (OTC: AEPT), an environmental service company, today announced that it has acquired Austin Master Services, LLC (“Acquisition”) located in Pottstown, PA effective July 1, 2022.
Total consideration for the Acquisition was not disclosed and was funded through a combination of cash, conventional debt, and common stock. The Acquisition will immediately be accretive to earnings, and we believe it will increase American Energy’s annualized revenue to over
Austin Master Services is a full-service, comprehensive environmental services firm specializing in radiological waste management solutions, including deactivation and decommissioning (D&D), remediation and transportation. They provide professional safety, industrial hygiene and health physics services. Their licensed and permitted Ohio facility can handle trans-loading of contaminated debris and soils, as well as decontamination of building material surfaces for the purpose of volume reduction of waste materials.
American Energy’s CEO Brad Domitrovitsch stated, “The acquisition of Austin Master Services adds service lines to the American Energy Partners portfolio of ESG related companies. We are proud and excited to add Joe Bement, Patrick Horkman and the rest of the Austin Master’s team to the American Energy Partners family.”
Austin Master Service’s President Joe Bement commented, “We are excited for the opportunity to join the American Energy Partners team. I believe that our combined resources, knowledge, and expertise will help exponentially in our success within the industry, and beyond.”
American Energy Partners, Inc. (AEPT)
American Energy Partners, Inc. (AEPT) is a conglomerate holding company. American Energy provides shareholder value through the acquisition and growth of environmental services.
For additional information, visit: American Energy Partners, Inc.
Safe Harbor
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT’s expectations and estimates.
Company Contact:
Contact@americanenergy-inc.com
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