American Energy Partners, Inc. (OTC: AEPT), an environmental service company, today announced that it has acquired Austin Master Services, LLC 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 $25,000,000.
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.
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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.”
Source: American Energy Partners