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American Energy Partners, Inc. (OTC: AEPT) has acquired Austin Master Services, LLC, effective July 1, 2022. This acquisition, whose financial details were not disclosed, is expected to be immediately accretive to earnings and boost annualized revenue to over $25 million. Austin Master Services specializes in environmental services, including radiological waste management and decommissioning. The acquisition will enhance American Energy’s portfolio of ESG-related services and expand its operational capabilities. Key executives from both companies expressed optimism about the combined potential.
American Energy Partners, Inc. (OTC: AEPT) announced the hiring of Nicholas Haden as Chief Commercial Officer effective May 9, 2022. Haden brings over 30 years of experience in business development, marketing, and government relations, having previously established an energy services company. CEO Brad Domitrovitsch praised Haden's qualifications and results-oriented track record. Haden expressed enthusiasm about contributing to AEPT's strategic plans. American Energy focuses on acquiring and growing energy assets to enhance shareholder value.
American Energy Partners, Inc. (AEPT) has successfully completed the acquisition of Apex Energy Service, LLC, effective January 1, 2022. The deal, valued at approximately $7 million in annualized revenue starting Q1 2022, is funded through a mix of cash, debt, and stock. The acquisition is expected to elevate AEPT's total revenue forecast for 2022 to $13 million. Apex, a service provider in Ohio, West Virginia, and Pennsylvania, adds 55 employees and multiple facilities to AEPT's operations. Contingent considerations are tied to achieving specific EBITDA growth targets over the next three years.
American Energy Partners, Inc. (OTC: AEPT) announced the appointment of Kurtis Z. Hoffman as Chief Operating Officer, effective January 1, 2022. Hoffman, who has extensive experience in the energy sector, previously held management roles at CNX Resources and other companies, overseeing budgets of up to $600 million. His addition is expected to enhance American Energy's operational framework and growth strategy. Josh Hickman will step down as COO but will remain President of a subsidiary, Hickman Geological Consulting.
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