10:47 AM EDT, 08/12/2024 (MT Newswires) -- Enservco ( ENSV ) said Monday it has completed its acquisition of Buckshot Trucking for $5 million, allowing it to enter the energy logistics business.

The company also said it has signed a share exchange deal and financing with Star Equity Holdings ( STRR ) , including a $2.5 million exchange of equity between the parties and Enservco's ( ENSV ) issuance of a $1 million short-term promissory note to Star to facilitate the closing the Buckshot acquisition.

Enservco ( ENSV ) said the deal makes Star a significant shareholder in the firm and provides equity infusion and short-term debt. Star Chief Executive Richard Coleman also received one seat on Enservco's ( ENSV ) board.