Atlas Power Options Inc. has accomplished its acquisition of Moser Engine Service Inc. (Moser Power Programs) for $220 million.
“The acquisition of Moser Power Programs is a platform funding that gives Atlas with publicity to the manufacturing finish of the oil and gasoline worth chain, together with new distributed energy end-markets”, Atlas president and chief govt John Turner mentioned within the firm’s report for the fourth quarter (This autumn) of 2024. “The acquisition strengthens Atlas’ market place as a number one supplier of vitality options and we anticipate the acquisition to assist mitigate the volatility of future money flows”.
The mix of Austin, Texas-based Atlas’ completion enterprise and Casper, Wyoming-based Moser’s distributed energy platform enterprise creates a number one portfolio of proppant, logistics (together with the Dune Categorical) and distributed energy options, the businesses mentioned January 27 asserting the merger deal.
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Moser’s “dynamic fleet of pure gas-powered property (~212MWs) expands Atlas’s present operations into manufacturing and distributed energy finish markets supported by sturdy macro tailwinds anticipated to cut back through-cycle volatility related to completions operations”, they added.
The merger “will increase Atlas’s buyer attain with a significant energy service providing in Atlas’s core geography, the Permian Basin, whereas offering geographic variety with working areas in key oil and gasoline basins throughout the central United States”, they mentioned.
The transaction consideration consists of $180 million in money and about 1.7 million widespread shares, valued at $40 million. Atlas might decide to redeem the inventory portion inside 90 days upon completion.
In the meantime it reported $14.4 million in internet revenue for the fourth quarter (This autumn) of 2024, down greater than half in comparison with the identical three-month interval a yr in the past however up 269.2 % sequentially. Internet earnings per share was $0.13.
Gross sales volumes through the October-December interval dropped 15 % quarter-on-quarter to five.1 million metric tons, coupled with decrease costs. Gross sales generated $271.3 million, down 10.9 % sequentially. Service gross sales fell 10.2 % to $142.9 million.
Earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) landed at $66.16 million for This autumn, in comparison with $46.88 million for Q3. Adjusted EBITDA got here at $63.24 million, down from Q3’s 71.05 million.
Working earnings was $30.74 million. Internet money from working actions was $70.85 million. Adjusted free money circulate was $47.93 million.
Atlas raised its quarterly dividend to $0.25 per share.
It ended 2024 with $289.42 million in present property together with $71.7 million in money and money equivalents. In the meantime Atlas’ present liabilities stood at $243.07 million together with $43.74 million in present portion of long-term debt.
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