Energy Services of America Corporation completed its acquisition of Tribute Contracting & Consultants, LLC on December 2, 2024. Tribute is an underground utility contractor with approximately 90 construction workers, specializing in water and wastewater system installations in Ohio, Kentucky, and West Virginia.
The purchase involved $22 million in cash, subject to assumed debt and working capital adjustments, and $2.0 million of Energy Services' common stock. The cash portion was funded through a $16.0 million loan from United Bank, West Virginia, with the remainder paid by the company, and included the assumption of $3.8 million of Tribute's equipment debt.
This acquisition expands Energy Services' capabilities and strengthens its presence in the growing water distribution and wastewater categories. Tribute's founders, Todd Harrah and Tommy Enyart, will continue their employment with Energy Services' new subsidiary.
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