11:45 AM EDT, 10/31/2024 (MT Newswires) -- Energy Services of America ( ESOA ) said Thursday it has agreed to acquire substantially all of the assets of Tribute Contracting & Consultants for $22 million in cash and $2 million in shares.

Tribute is an underground utility contractor focusing on water and wastewater system installations in Ohio, Kentucky, and West Virginia, the company said. It expects to close the transaction in early December.

Shares of Energy Services were up over 2% in recent trading.

Price: 11.56, Change: +0.29, Percent Change: +2.57