Atlas Energy to acquire Moser Energy Systems

Atlas Energy (AESI) has entered into a definitive agreement to acquire all of the outstanding capital stock of Moser Acquisition – Moser Energy Systems or Moser -, a provider of distributed power solutions, in a transaction valued at $220M. The transaction consideration includes $180M of cash and approximately 1.7 million shares of the company’s common stock, par value 1c per share, which are valued at $40.0M. The combination of Atlas’s completion platform and Moser’s distributed power platform creates a diversified energy solutions provider with a portfolio of proppant, logistics and distributed power solutions. Moser’s EBITDA margin profile of 50%+ and cash flow generation is expected to enhance Atlas’s pro forma cash flow generation and shareholder returns. Estimated to be immediately accretive. Expects acquired assets to generate $40M-$45M in Adjusted EBITDA in 2025, which implies on a full run-rate basis a valuation of approximately 4.3x 2025 Adjusted EBITDA. The transaction is expected to close before the end of Q1.