Austin-based Atlas Energy Solutions said last week it agreed to purchase Moser Energy Systems, a provider of distributed power solutions, in a cash and stock transaction valued at $220 million ($180 million cash). Atlas said the combination of its completion platform and Moser’s distributed power platform creates “an innovative, diversified energy solutions provider with a leading portfolio of proppant, logistics (including Dune Express) and distributed power solutions.”
The transaction “increases Atlas’ customer reach with a vital power service offering in Atlas’ core geography (Permian Basin) while providing geographic diversity with operating locations in key oil and gas basins across the central U.S.”
John Turner, president and CEO of Atlas, said Jan. 27, “This acquisition diversifies the company into attractive high-growth end markets in both production and distributed power while strengthening Atlas’ current market position as a leading provider of energy solutions within the oil and gas sector across North America.”