Allentown, PA – (NewMediaWire) – October 04, 2021 – American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, is pleased to announce the completion of the previously announced acquisition (“Acquisition”) of Unlimited Energy Services, LLC, an Ohio limited liability company, (“Unlimited”) effective October 1, 2021. Total consideration for the Acquisition was funded through a combination of cash and conventional debt. Michael Goodwin will continue in his role as President of Unlimited Energy Services, LLC.
Unlimited is a regional provider of services to reduce customers’ environmental footprint including decommissioning, plug and abandonment, and reclamation services of oil and gas assets. Headquartered in Jane Lew, West Virginia, Unlimited is currently performing services in Ohio, West Virginia, Pennsylvania, Virginia, and Kentucky for public and private customers.
· Represents an increase in annualized revenue of approximately $3,000,000 beginning in Q4 2021
· 27 employees
· Four-acre facility in Jane Lew, West Virginia
Michael Goodwin, President of Unlimited, commented on the announcement, “Today marks the culmination of five years of relentless work. The future for Unlimited is very bright and I could not be happier to have the full support of American Energy.”
American Energy’s CEO Brad Domitrovitsch stated, “We are very pleased to make this high-quality investment to reduce the environmental footprint of companies in the energy sector. Mr. Goodwin is an exceptional operator, and we welcome him and his employees to our team.”
American Energy Partners, Inc. (AEPT)
American Energy Partners, Inc. is a diversified energy company. Through its various subsidiaries, the Company engages in water treatment and distribution, oil and natural gas production, geotechnical consulting services, and energy education.
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