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EVO Transportation and Energy Services Acquires Thunder Ridge Transport
Wednesday 13 June 2018

13 June 2018 - Arizona, US-based alternative fuel services company EVO Transportation and Energy Services, Inc. (OTC: EVOA) has acquired Missouri, US-based mail contractor Thunder Ridge Transport, Inc., the company said.

Financial terms of the transaction were not disclosed.

Under the terms of the transaction, EVO has issued a seller note to Thunder Ridge president and CEO Trey Peck and assumed certain liabilities and debt held by Thunder Ridge.

In addition, EVO will issue common stock and options to the company. With this acquisition now completed, EVO has the infrastructure, assets and access to immediately begin bidding on new opportunities which would be incremental to the 13 USPS contracts that are currently being service by Thunder Ridge.

This acquisition represents EVO's first acquisition as part of a new strategy to take advantage of the said US Postal Service (USPS) initiative to streamline its contractor network, enhance efficiency and prioritise alternative energy transportation options.

EVO said it has aligned its strategy and focus to be a meaningful player in this transportation market. continued Yeros.

Thunder Ridge Transport, Inc. operates 150 trucks with a network of more than 190 employees and independent contractors that service 13 USPS contracts across nine states. Thunder Ridge is expected to generate more than USD 20m in revenues in 2018.

EVO Transportation and Energy Services, Inc. is an emerging transportation operator. Today, EVO operates, five CNG refueling stations located in California, Texas, Wisconsin and Arizona.
Details
Date Published: 13/06/2018
Target: Thunder Ridge Transport
Country: USA
Sector: Alternative Energy
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: EVO Transportation and Energy Services
Comment:
Terms of the deal were not disclosed

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