Energy Services of America Acquires Tri-State Paving & Sealcoating

Energy Services of America Corporation (Nasdaq: ESOA) formed a wholly owned subsidiary to acquire substantially all assets of Tri-State Paving & Sealcoating, LLC for $7.5 million in cash, a $1.0 million seller note, and $1.0 million in ESOA common stock. The asset purchase, which is expected to close April 29, 2022, will expand Energy Services' capabilities and presence in the water distribution utilities market; Tri-State's president David Corns will continue with the new subsidiary.