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Energy and Environments Services Acquires Abilene Celex for USD 325,000
Thursday 06 February 2020

6 February 2020 – US-based Energy and Environmental Services, Inc. (OTC: EESE) has acquired all membership interests in Texas-based oilfield chemical provider Abilene Celex Services, LLC for USD 325,000, the company said.
EES's management estimates that pro forma combined revenues for 2019 with Celex would be approximately USD 9.5m. Management believes Celex contributes about USD 700,000 to that revenue amount after adjusting for intercompany transactions.
EES said acquiring Celex allows the company to manufacturer field ready products for Celex in in its Snyder, Texas plant. The freight savings and combined volume discounts will go a long way to help the ROI with this purchase.
Energy and Environmental Services, Inc. (OTC: EESE) participates in the oilfield chemical, anti-corrosive coatings and biotech industries. EES has expanded to develop innovative products and applications for enzyme system technologies and livestock feed supplements.
Details
Date Published: 06/02/2020
Target: Abilene Celex Services
Country: USA
Deal Size: 325,000 (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Energy and Environmental Services, Inc
Comment:
Terms of the deal were not disclosed

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